Hi SP3,
As the loan expires, the debt will have to be resolved. One option to deal with debt is to take the debt forgiveness to the next available AGM and forgive the debt in exchange for an equivalent value of shares and returned to ECT via a selective buy-back. The equity component minus costs would then be returned to the borrower. This is one example of how the debt can be resolved at expiry, however it is not the only one and the decision for how this would be approached will be made closer to expiry depending on a number of influencing factors.
ECT Rep
Hi SP3,As the loan expires, the debt will have to be resolved. ...
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