Bit confused by this. "...as recognition of the Company’s...

Bit confused by this.

"...as recognition of the Company’s progress in its Indian iron ore operations, that Resource First Pte Ltd has agreed to receive 100% of its convertible Note and marketing Agreement fees in shares and options"

So they have issued AU$250k worth of shares and options to Resource First Pte Ltd, even thought the face value of the Convertible Note was US$2.5million? Or is this a separate thing entirely.

Here is the agreement with Resource First Pte from 2012.



Anyone able to clear this up for me? Never had much experience with convertible notes.

Cheers,

Tim