Ann: Equity Lending Facility Results, page-43

So ECTF borrows $23 million from 'wholesalers', and gives it to ECT now on the basis that in the future, if certain conditions are met, the option holders will then pay this money (plus interest) back to the wholesalers?

And there was I thinking it was nothing but an accounting ploy to extend the expiry of unviable options into a possible future exercise potential of $23 million if certain precedents were met.

Wow, all we are waiting for then is the announcement by ECT they now have $23 million in the bank to proceed with.......