[flowerpower]

It’s described as an “8% $30 million convertible loan note” and then later it says:

“Highwood’s finance director has calculated that to issue an equivalent loan note without the conversion rights it would have to pay an interest rate of 10% per annum to attract investors”

[flowerpower]

Hi Mike, the question says “Interest is payable annually in arrears on 31 March each year”. I’m not sure if cash is actually paid or rolled over, how can I be sure?

Thanks,

Dan

[Author]

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