Elysium Equity (RF) Pty Ltd — Harith consortium preference share funding mechanics
How the True-Up Works at Year 5
1
For 5 years, dividends accrue at 20% p.a. compounding monthly (but aren't necessarily paid out)
2
On the Reduced Rate Effective Date (year 5 + 1 day), everything is recalculated as if 73% of Prime had applied from day one
3
The difference (the "Dividend Overpayment") is deducted from future payments — so the 20% rate is just a cap that always gets trued down
4
From year 5 onwards, the rate is 73% of Prime going forward — no more true-ups