The key terms of the agreement with Wafin are as follows: ...

The key terms of the agreement with Wafin are as follows:
 Wafin will invest A$40 million via three-year zero coupon unsecured convertible notes ("Wafin Notes") with a conversion price of 10 cents, a 19.1% premium to Sundance’s one month VWAP.
 Wafin will also receive options over 260 million ordinary shares with an exercise price of 12 cents ("Wafin Options"), which expire on the earlier of 60 months from issue, 20 business days after the project’s Financial Close or a Change of Control Event (as defined in Annexure A) ("Options"). 50 million of these Options are not subject to Shareholder approval ("Tranche 1 Options") but 210 million of these Options are subject to shareholder approval ("Tranche 2 Options").
 If not converted into Sundance shares, the Wafin Notes are redeemable at maturity for 130% of face value.
 Wafin will have the right to appoint a representative to the Company’s Board if its total shareholding in Sundance exceeds 12.5% of Sundance's total issued share capital. Wafin will also have certain anti-dilution rights, including a right of first refusal and (subject to an ASX waiver) a top-up right where the right of first refusal does not apply.