DWF GROUP PLC GB00BJMD6M39
A loan note or loan stock is deemed as a ‘security’ for ISA qualification purposes.
So, it will depend on whether the loan notes are ISA qualifying in their own right. So, are the loan notes or the shares in the issuing company either listed on a recognised stock exchange or admitted to trading on a recognised stock exchange in the European Economic Area (EEA) or UK. So, if the loan notes are ISA qualifying there is no need for any action.
The scheme document paragraph you have copied below from page 76 of the scheme document says the loan notes will be listed on a recognised stock exchange (which will likely be The International Stock Exchange) and if that’s the case and they do list they will qualify for ISA inclusion.
Just to note, If the preference shares are not listed/traded (like in this example), then they won’t qualify for ISA inclusion.
For ISA qualification purposes preference shares are treated in the same way as ordinary shares. To qualify for ISA inclusion, a share has to be officially listed on a recognised stock exchange (see ISA Guidance https://www.gov.uk/guidance/stocks-and-shares-investments-for-isa-managers#shareinv) or, from 5 August 2013, admitted to trading on a recognised stock exchange in the European Economic Area (EEA) including the UK.