Loans7 Nov 2020 23:38
1AF2 (AZ director) transferred shares to the following:
1. 1,615,253,000 SYME shares transferred to High West Capital Partners LLC
2. 778,571,429 SYME shares transferred to Stock Loan Solutions LLC
3. 3,500,000,000 SYME shares transferred to Union Pacific Capital Ltd
To secure loans to 1AF2 with a minimum 2 year duration. “The Loans may be drawn in a series of tranches over one month and Lenders may trade pledged shares to diversify their portfolio concentration risks. Upon repayment, all 5,893,824,429 SYME shares will be returned to the borrower.”
Few questions if anyone can help:
1. Is the 2 year minimum duration the amount of time these companies have to hold onto the shares?
2. It says that the lenders may trade pledged shares, can this occur at any time or is it only if the loan is not repaid after 2 years?
3. What were the loans used for and how much was borrowed?
Just a bit confused about the agreement.