Ann: Finance Facility Update, page-3

Hard to see the potential problem here with Glencore when considering the funding structure announced to the market, which is:

$20m converting note at 25.1c with 60 mth maturity at interest rate of BBSW +4%. Convertible at AMI's option and if converted equals about 80m shares.

$50m converting note at VWAP prior to conversion with same maturity and interest rate as above.

$30m debt facility with 60 mth maturity at interest rate of BBSW +4.5%.

$5m debt facility with 42 mth maturity at interest rate of BBSW +4.5%.

An undrawn $50m debt facility.

The seems to be plenty of time left before any loans mature so unless interest is not being paid it is hard to see what the dispute might involve. Maybe there was/were some establishment fees or something like that not paid or overdue? I look forward with interest (pun intended) to see how this resolves.

Cheers