Ann: Execution of non-binding Term Sheets for Project funding, page-3

The Company is well progressed in the drafting of the binding finance and security agreements based on the Funding Package and will then be in a position to schedule an extraordinary general meeting (EGM) targeted for the first quarter of calendar year 2020 to provide Shareholders with the opportunity to consider and, if thought appropriate, approve the arrangements with the Lending Syndicate.

The Company’s current target for satisfactorily completing these tasks and reaching Financial Close to be able to drawdown funds and issue a ‘Notice to Proceed’ to the EPC contractor is the end of March 2020.