1 December 2014
Further to the Deed Administrators' announcement on 26 November 2014, we provide the following update:
Funding Facility and DOCA - Conditions Precedent
The term of the $165 million Facility (as described in the ASX announcement dated 3 October 2014) has been extended by way of forbearance letter whereby, in the absence of an Event of Default, the parties agreed to extend the term to the earlier of Monday 22 December 2014 or, at the lender's discretion, 24 hours' notice from the lender to the Deed Administrators.
The date for satisfaction of the DOCA conditions precedent has been extended to 22 December 2014 by agreement between the Deed Administrators and SGH Energy (No 2) Pty Ltd, in accordance with clause 4.3 of the DOCA.
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