Ann: Trading Halt-TNG.AX, page-110

Excellent announcement and another step in the process.

TNG TAKES PIVOTAL STEP TO SECURING FUNDING FOR

MOUNT PEAKE PROJECT WITH GERMAN ENGINEERING Group AGREEMENT TO JOINT TECHNOLOGY EXCHANGE FOR COMMERCIAL DEVELOPMENT OF TIVAN REFINERY

SMS group to play key role in obtaining project debt funding from German Export Credit Agency

Key Points

•   Memorandum of Understanding signed with SMS group GmbH, one of the world’s biggest metallurgical engineering and construction companies, for the joint commercial exploitation of the technology underpinning the TIVANTM downstream refinery.
  
  
•   Under the MOU, TNG and SMS will investigate the most feasible structures to jointly exploit their IP, including via cross-licencing, patent pooling, joint ventures or other arrangements.
  
  
•   TNG will grant SMS – which has already signed a binding agreement for the engineering, design and construction of the TIVANTM refinery in Darwin – and its customers the right to use TNG’s TIVANTM IP in exchange for a royalty, while SMS will grant TNG the right to use its specific complementary IP in TNG’s refineries.
  
  
•   The agreement further cements the relationship between TNG and SMS group, which has already undertaken to provide assistance for obtaining the funding of the construction of the TIVANTM refinery through an Export Credit Agency or other structured finance options available.
  
  
•   SMS group is a significant user of Germany’s Export Credit Agency scheme. The main objective being to safeguard German jobs through exports by providing competitive finance options to projects.
  
  
•   The signing of the MOU follows a visit by a delegation of senior SMS executives including SMS group Board member Harald Rackel to the Mount Peake Project and the site of the TIVANTM refinery in Darwin, as well as a meeting with NT Chief Minister Adam Giles.