Ann: Section 708A Notice and Appendix 3B, page-20

I will need to do a bit of analysis but this 40m conversion is a good buy signal from SMART MONEY.

I can't remember how much they have in the kitty but they did have $4.2m from the CNs so I guess there would be a bit left. Still by converting now they are signalling they are happy to carry $250k worth of risk with an expectation of a good return in 6-12 months.

Why 6-12? Simply that funds usually try to generate returns by end of calendar year and then end of financial year to clear bonuses etc. Plus July is a good time to get in before the usually Xmas rally. So 6 months would quite likely IMO