From this letter it asserts that the lender receives "over generous" interest from loaning funds to the company.
The interest rate I have gathered from the announcement on the 28/05/2019 is 15%. Looking at the interest the company receives from option holders in the ELF scheme there is a sliding scale but the highest rate is 11.61%.
https://www.asx.com.au/asxpdf/20170623/pdf/43k4wbh9zywf5k.pdf
From the company's financial perspective this leads to a deficit in revenue instead of a surplus.
For clarity, does the company still not agree that borrowing at a higher interest rate than the rate it receives from the ELF is not over generous to the lender?
ECT_Rep - Q&A Session - Letter, page-3
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