text: 〉〉 
  
   Tranche one will be a $25,000,000 Akara 
  Pre IPO Bond with a maturity date of 31 
  July 2015. The current intention is for this 
  tranche to be repaid as part of the Akara 
  IPO although at Kingsgate’s election 
  repayment can be made by either cash or 
  in Kingsgate’s shares. 
  
  〉〉 
  
   Tranche two is an amortising facility with 
  $5,000,000 to be repaid during the 2014 
  financial year and the balance of 
  $10,000,000 repaid during the 2015 
  financial year. 