Dick Knight stated at the Fans' Forum last August that the initial £20M loan note facility had nothing to do with Falmer funding.
In addition, BHA Holdings Ltd increased its nominal share capital from 20M to 50M to (£1 shares) in May 2008; approximately 9.5M shares have been issued to date.
Ooops! - certainly should. We're restoring an 18th century cottage at the moment and just popped home for some lunch - brain is getting a bit muddled with foundations (or lack of) and deliveries of P300 concrete.
Thanks Buzzer, put much more succinctly than I would have managed.
The loans do not necessarily have to be repaid in cash, they may also be repaid in shares/stock in the company.
The creation of a futher trench of Convertible Unsecured Loan Notes, with a nominal value of £40M, was authorised at the Board meting held on 10th March 2009; this is in addition to the £20M authorised in May 2008.
The redeemable date for both is stated as not before 31st December 2023.