NURAN is currently in default under various loans. It is guaranteed that NUR warrants under the SFA with EIB that it is not in default under any other third party financing. Hence, I am certain they will need to restructure the debts in default prior to signing which will result in extension of term and likely lower conversion rate. As regards the other two questions - only Francis knows why they have again missed the timing and what are the further hiccups with EIB.