According to the announcement Galan has issued Acuity nilpaid...

According to the announcement Galan has issued Acuity nil
paid shares. It occurs to me that Acuity could go short safe in the knowledge that Galan will be drawing down on their facility (as it has no alternative), probably in batches, and that as these shares will become paid-up they will provide cover for the short. The quarterly cash (crisis) reveal would have been perfect for going short.

This does feel like a facility of last resort. I guess our valiant duo are trying to line up some funding from China, but they only have a month or so to do it. Galan need to retain at least some cash to remain an on-going concern.