RAF. "The loan will be repaid 100% from sales proceeds by 30...

RAF.

"The loan will be repaid 100% from sales proceeds by 30 june according to PIO."

I agree with you, it is only the method of repayment in dispute.

The loan should be repaid by June 30, from the installments kept back by Cabots as per the 40/60% deal that I explained. When the end of June comes around it will have been repaid, PIO will not have to then find the total money to repay at that time.
The rest of the money, for the remaining shipments, will then be paid by Cabots by December2019.

Lockitt