I'm certain you meant to write "So there you have IT." but most...

I'm certain you meant to write "So there you have IT." but most people make mistakes.

And that is presumably why you are on HotCopper, to be taught how to understand a transaction.  Whilst the shares have been sold, the transaction in-toto (look it up) involves a dividend to the Company in 12 months time of 50% of the valuation of the PCH business which will be determined by either an independent valuer, or, if the purchaser sells all or part of the business within that 12 months, 50% of the valuation at which that sale is made.  The proceeds in turn will be used to reduce the Convertible Note.

Hence, if the business is valued at $4m, Plus Connect will receive 50% or $2m which would extinguish the Convertible Note.

Simple!

You will of course attack me as if I was defending the management and the transaction (which I haven't) but I do think that any criticism should be valid and logical, yours wasn't.

On another note, what would you have them do?