my god what have i done ?, page-19

One reason would be that you know that the chance of being repaid is slim - but there are assets that are available and you stand the chance of being able to renegotiate the terms for a better outcome - otherwise as you said, repayment in shares is an option whereby you hope (or even help) the shares remain at low prices for as long as possible during the repayment perid (which is any time between now and October) so the number of shares your receive is greater. What you do with the shares after that is the unknown - takeover? maybe. sell them? it has happened before (CDU) - still none of it seems mich benefit to share holders given what the money is being used for at present.