I am not sure my calcs are accurate, but I think it gives us a...

I am not sure my calcs are accurate, but I think it gives us a glimpse of the effect on control of AJX after the change in terms, and the increase in the C/N funding, upon the conversion of the C/N by Colintons at the expiry of the C/N in 2025.

I recall that the conversion of the original C/N was subject to the approval of shareholders.

One would assume, I guess, that this new C/N would also be subject to the approval of shareholders if Colintons elected to convert at maturity?

We don't know, because the ASX release was very short on detail.

Which is poor, because this news is very much "market sensitive", relates to a possible change of control event in 2025, relates to the issue of Going Concern", hence should have contained more detail.

I wonder what the large shareholders feel about the significant reduction in the conversion price??

The real issue for all of us, is that AJX was, frankly, in desperate need for fresh funding.
The "factoring" type loan from Alterna proved that.
I bet raising of equity was simply not an option.
So the increase and extension of the C/N was AJX's only option, and that the significant reduction in conversion pricing was the price we paid?

As we all know, it all depends on sales! What? Sales! Sales! Sales!