This is from the TKG activites report:"On the 18th May 2007 the...

This is from the TKG activites report:

"On the 18th May 2007 the Company announced to the Australian Stock Exchange
(“ASX”) that it had arranged additional working capital of $3,250,000 for the Company
by way of an extension to the existing 3 year Convertible Note that was issued to the
Sentient Group (“Sentient”) an independent private equity Company based in the
Cayman Islands.
The Convertible Notes carry an 8% coupon and may convert into a further 220,000,000
Fully Paid Ordinary Shares at 1.5 cent per share.
As part of the arrangement, should Takoradi’s share price trade at a price of 1.8 cents
per share at any time within the next 3 months at a 60 day weighted average price of
1.8 cents per share, Takoradi can elect to call for the conversion of the Note into equity
at 1.5 cents per share. If this occurs there will be no interest due on the Note at the time
of the conversion. The cancellation of the interest also applies to the existing
$3,750,000 Convertible Note that was drawn down in December 2006"

Does this explain the recent share rise, the report was not released until the 1/8/07, I assume the 1.8 target applies until the 1/11/07 or is it 3 months from 18/5 in which case it has expired? Any comments? Does this mean that it must averge 0.018 for sixty days to avoid interest payments?