Hi Frmen, hows things ? I have a view based on a single read of...

Hi Frmen, hows things ? I have a view based on a single read of the document, I will have another look on the Weekend at this and the various Trust Deeds & Variations to see if I have missed anything. Initial thoughts are :

The 2nd part of the Announcement discusses a dispute by Carnegie in relation to the Convertible Notes, but not the exact nature of the dispute, although timing of maturity date / early redemption rights was mentioned. I'm not concerned because the dispute appears to be of a minor nature and it has been resolved. However, this resolution has entailed the need to a consensus (75% of noteholders) to give it the rubber stamp (as a requirement of the Trust Deed).

What I think is interesting is that Tribecca going forward will provide a cheaper source of funding for us than Convertible Notes, and is a single entity - this has the benefit of not needing multiple other parties to approve any minor or major contract disputes, it will just be 1 on 1.

I hope I have answered your question, if I have missed something let me know.

Mind you, I mentioned the term 'cheap funding' above ...... how good is it that we have received those lovely Government grants in the millions, to help us along our way ? Now that is cheap funding !

GLTH