RE: Not long now1 Nov 2023 11:31
RNS 23rd October 2023:
under the terms of the JVA, Proventure is required to make an initial interim payment of £2,000,000 (the "Interim Payment") to the Joint Venture SPV (the "JV"). The Interim Payment must be received by latest 10 November 2023, and the consortium's proof of funds has already been provided by Proventure. As a result, MED has further extended the completion long-stop date for the JVA. The revised completion date and the payment of the balance of the investment due of c. £3.9m is now expected by no later than 30 November 2023