Ann: Redemption notice received, page-15

okay so I went back to look at the announcements from the time; there was initially 59m Pref A shares and 58m Pref B shares at 15c each.

Then in order to get the bank loan they agreed to issue 52m more Pref A shares and 51m more Pref B shares a year or so later. This was to get rid of the dividend obligation on the pref shares and to postpone the put option on the Pref B shares.

So total 111m pref A and 109m pref B - all at 15c.

Only the pref B shares have put options on them though, I think the pref A shares can only be redeemed if the company completely changes course etc (but not 100% certain!).