strategy

STRATEGY - Non-core assets sale update

MFML is presently in advanced negotiations with the preferred bidder for the sale of all four non-core assets. At this time, MFML cannot guarantee that the sale of the four non-core assets will be completed.

MFML will provide further updates to the market on these negotiations as they progress.

Once the non-core assets sales have been completed, an opportunity may present itself to sell the realigned portfolio in one line and transfer the asset level debt to an acquirer potentially mitigating the considerable debt prepayment costs (approximately US$10 million) that would be incurred in a piecemeal wind-up scenario.