redemption is buying back the notes which means $9+67c premium. If they convert it into stock at 3 cents there wont be any premium but it needs shareholder approval.
Notes does offer interest : Interest rate of 9% per annum, paid bi-annually.
the one which doesn't need shareholder approval had already been granted at 3 cents
1st part
$0.9 million from the issue of 30 million shares under Tranche 1;
$0.6 million from the issue of 20 million shares under Tranche 2.
2nd part
Threat Protect may elect to redeem the Notes on issue in whole or part during the term, at a redemption amount equal to the face value of the Notes plus accrued interest and a redemption premium of $0.67 per Note.
Subject to Threat Protect shareholder approval, Notes may convert to fully paid ordinary shares in Threat Protect at a conversion rate equivalent to 3 cents per share (subject to adjustments as provided in the terms of the Note Deed).
