Hi redant,
yes - I totally get your point of assessing from a personal perspective, but in the exanple you gave we can assume that the relationship ends when the loan is settled.
Here we have an ongoing relationship with SIO, and they may be our key support in getting additional US funds investing in the company. Dilution is very difficult to avoid - it happens for all companies in a growth phase, big or small.
As Wayne's tweet summises; a deal is a deal. The company made this one under duress and SIO has a right to convert the loan to an equity position.
Proposal to be considered at EGM, page-39
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