This is just my understanding:
they have quoted the value of the loan in their books They have then stated the fair value of the top up - I dont believe its what is in their books but the fair value of the top-up using one of those sophisticated formula's for options and future values. You often see in the directors remuneration that the fair value of the options are ... From what i understand its a calculation at the time of issue but its not recorded as an asset in the books as they dont state its the book value ...
At the time of issue I think it was around the 6c so in fact 8c over a period of over 18 months its not unreasonable.
Its just one of those clever accounting ideas that makes financial statements less meaningful each year - My opinion.
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