UKEF Site Visit, page-57

The language being used is somewhat confusing. I guess if you take it as literally as possible it is saying the expectation is that the vesting criteria is guaranteed to be met (presumably based on internal forecasting) so they are expecting the exercise to happen. But as of right now that hasn't happened, so it is still pending.

I guess what it does if nothing else is place a firm final date on these milestones. I cannot see how they could be paid if not met, and announced publicly. Aug 24 isn't that far away, depending on what specifically "investor funding" means in that agreement.