I want to be a long term holder of this company and am glad the...

I want to be a long term holder of this company and am glad the share price is coming back as it lets me buy more shares.

The number of shares seems to have gone up from 50.12m to 70.12m. Does this mean Oaktree have converted some of the loan into 20m shares?

From the 2018 chairman's address

"As a Board we are pleased to have partnered with Oaktree. The terms of the capital facility havebeen explained. However, it is important for shareholders to understand the benefits the Board seesin this arrangement.

Oaktree is one of the world’s leading private market asset managers, with its 23 year track recordearning it the right to manage more than USD 120 billion. Its clients include 73 of the 100 largest U.S.pension plans, 38 of the 50 primary state retirement plans in the U.S. and over 15 sovereign wealthfunds. It listed on the NYSE in 2012, and has successfully managed the challenges of managingprivate market assets as a public company. This experience will be invaluable to us as we continueto improve our business.

Our institutional clients typically require us to co-invest at between 2.5% and 5.0% of their capitalinvested. With our cash position having deteriorated, at its simplest, the Oaktree facility allows us toco-invest more with our institutional clients. At a co-investment rate of 5.0%, $50 million facilitates afurther $1 billion deployment in FEAUM. At a co-investment rate of 2.5%, $50 million facilitatesdeployment of an additional $2 billion in FEAUM. Importantly, this co-investment will generateearnings shoulder to shoulder with our institutional clients. Those investment earnings will help tomeet the 15% coupon on the facility. In the five years to 31 October 2018, our realised investmentsgenerated returns of 17.9% per annum, net of fees. If comparable returns can be met from this co-investment, there will be no net cost to the company of this facility. In addition, it will allow us togenerate further management and performance fees.

Oaktree has already been assisting us to attract new high calibre candidates"

Thank you Mr Market.