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FT8 plc (GFT)

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Wednesday 02 March, 2016

FT8 plc

Update to Working Capital, Funding and Development

FT8 plc

(“FT8” or the “Company”)

Update to Working Capital, Funding, and Development

FT8 advises that further to the announcement of 26 June 2015, it has applied to draw down the British Pound equivalent of Australian AUD 2.0m under its loan agreement with a private financier.

FT8 has been advised by the private financier that presently its funds are subject to final bank compliance and not immediately available. The FT8 directors remain confident that the funds will be available in short order and the directors have received a number of assurances from the private financier to that effect.

The impact on FT8 of this delay in drawing down funds under its loan agreement is that a number of initiatives are temporarily in abeyance. Despite an appreciable decline in working capital due to current balance sheet constraints, FT8 has sought and received the accommodation of its service providers. Furthermore, FT8 continues the development of previously-announced initiatives, as well as the pipeline of additional investment opportunities.

A further update will be provided as soon as practicable.

Enquiries:
Phillip Pryor, FT8 Plc +61 419 342 457
Sean McShane, FT8 Plc +18 172 718 169
Katy Mitchell, WH Ireland Limited +44 161 832 2174

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