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The Loan Notes are convertible into equyity .... this is from the RNS at the time of the investment ...."The Loan Notes will accrue simple interest at the rate of twelve (12%) per cent annually until December 31, 2014 unless an IPO is concluded prior to this date, increasing at 1% for each six month period thereafter until the final maturity date on 31 December 2015. The Loan and accrued interest convert to equity at various prices depending on when Stream TV conducts a Qualified IPO (as defined). There are early repayment provisions in the case of certain strategic investments."
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