Ann: Operational Update , page-3

You forgot the 5% repayment fee...

So supposedly the principle is they get "returns equivalent to shareholders" on this facility, yet if the share price goes down, they get £150k on signing, 12%pa and 5% on repayment.

But if the share price rises more than 12%pa before repayment, they get the % the share price rises by instead of the interest rate (and still get the £150k up front and the 5% of repayments)

Ummm yeah. I guess it's still an improvement on the 84% effective loan rate with Gemini...