31 December 2019 ASX: IGE Major USA Transaction Finalised •...

31 December 2019 ASX:

IGE Major USA Transaction Finalised

• Major Receivable from USA
• SGC Funding Update

While the final funding package was released from our funder’s banks in Hong Kong on Friday 20 December this meant that the transaction documentation landed off-shore on the eve of the Christmas/New Year period.

With this timing SGC has advised that the international banking processing centres will be reopened in the new year and as such full funding will commence in January 2020.

Mr Brian Engel, Managing Partner of SGC stated: “The IGES funding package is complete. As a result of the practicalities of the impact on the international banking of the Christmas and New Year period, timing of the actual movement of funds will need to occur in January 2020.”