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The JVA completion date and the payment of the balance of the investment due of c. £3.9m is still expected by around 30 November 2023.
By Thursday latest this will push north towards 2p once confirmation of payment is made
Gla
The RNS clearly stated it’s a legally binding contract so both parties have to fulfil their end of the bargain so neither party can pull out as it would be breach of contract.
Also proof of funds have already been provided.
Nice try deramping at after hours lol
It is refreshing to see the price edge upwards- best time to be invested in Boil :-))
Bcarm
Have a look at Mast!
£5.9 million due by 30th Nov 2023 with evidence of funds already provided…
MED has extended the Interim Payment deadline, and the Interim Payment is now expected to be received between 15 and 30 November 2023. In consideration for MED granting a further extension in respect of the Interim Payment deadline, it has been agreed between both parties that Proventure will incur and pay to MED a late payment penalty. Proventure will incur a late payment penalty for every day that the Interim Payment is received late to the amount of £3,000 per day, commencing on and calculated from 11 November 2023, until the Interim Payment and the balance of investment pursuant to the JVA are paid in full on or before the completion long-stop date of 30 November 2023.
If the Interim Payment is however received before or on 15 November 2023, MED will waive any late payment penalties that have been incurred until that point in time. Notwithstanding the extension of the Interim Payment deadline as referred to above, the JVA completion date and the payment of the balance of the investment due of c. £3.9m is still expected by around 30 November 2023.
Money in the bank by tomorrow or latest Thursday if the deadline of 30th November 2023 is to be met.
It’s costing Proventure £3,000 per day for the delays
Once confirmation RNS is here, this won’t be at 1.20, you’d be looking upwards of 2p plus