RE: When are cash payments made to YA20 Sep 2018 09:19
Just to clarify my thinking. The YA payments are not like loan repayments with a fixed date. The YA payments are preference share redemptions. For a pref to be redeemed it must be presented, rather like cashing a cheque at the bank. At that point FRR has the option to either give cash at face value or convert the prefs to ords using an agreed formula.