Noteholders has imposed a condition to SDL that SDL shares...

Noteholders has imposed a condition to SDL that SDL shares should cease to be suspended from trading on the ASX by 1 July 2019 per agreement between SDL and noteholders on 2 Nov 2018. On the other hand while the ANS acquisition deal is still valid, and ANS is not able to respond to the ASX's inquiry regarding source of funds and capital structure, SDL trading suspension will remain. In this case, SDL shares are suspended due to ANS.

Extract from the announcement on 2 Nov 2019 regarding the agreement between SDL and noteholders.

quoted

"On 31 October 2018, Sundance secured waivers from each ofthe Noteholders to enforce their rights under the relevant Note Deeds inrespect of these Events of Default, which will remain in force and effectprovided (i) Sundance shares cease to be suspended from trading on the ASX,(ii) Sundance lodges its 2018 Annual Report with ASIC and ASX and (iii)Sundance enters a new Convention on terms substantially similar to the CameroonConvention, in each case by 1 July 2019"

Unquoted

Point no. ii had been satisfied since the annual report for 2018 had been lodged last year.

 Points. (I) and (iii) have not been done.

Therefore, if noteholders do convert the debts to shares per agreement signed in July 2018 and becoming the controlling shareholders of SDL, and SDL becoming a debt free company,  points (ii) and (iii) will become irrelevant.