DecanThe ability to pay a dividend is dictated by the company...

Decan

The ability to pay a dividend is dictated by the company having profits. Therefore while the company is building its product and distribution network I see the convertible preference holders not receiving any return via the 11.4% dividend.

The return for the convertible prefernce holders comes from converting to ordinary shares at a low VWAP and waiting for the share price to increase. This seems contrary to your views that they are getting out of the company. I suggest a person that has 14.83% in the company and increasing their shareholding appears to have a lot of confidence in the company and where it is going.