Covenant Compliance and Lender Waiver Update

In brief · summary, not quotable

ICFG Limited has received a waiver from a lender concerning covenant breaches at InvesCore NBFI JSC, extending until August 31, 2027, and covering approximately US$23.3 million in outstanding borrowings as of June 30, 2026. This waiver addresses cross-default provisions and applies to future drawdowns under the facility agreement. InvesCore maintains a strong liquidity position with approximately MNT 158.6 billion (US$44.3 million) in cash and cash equivalents and a loan portfolio of MNT 1,151 billion (US$321.2 million) as of the same date. The Group continues to engage with all lenders regarding facility terms and covenant breach matters.

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ICFG Limited (LON: ICFG), the international financial services group, is pleased to provide an update in relation to InvesCore NBFI JSC's breach of certain financial covenant requirements (the "Covenant Breaches") and the associated lender engagements, as previously disclosed in the Company's announcement dated 30 April 2026 and in its audited financial statements for the year ended 31 December 2025.

The Group has received a waiver from one of its lenders in respect of the cross-default provisions arising from the Covenant Breaches until 31 August 2027. The waiver relates to outstanding borrowings of approximately US$23.3 million as at 30 June 2026 (31 December 2025: US$9.6 million), representing approximately 13.3% of the total lender exposure affected by the Covenant Breaches as at 31 December 2025, and extends to any future drawdowns under the existing facility agreement.

The Company notes that InvesCore continues to maintain a strong liquidity position, with cash and cash equivalents of approximately MNT 158.6 billion (c. US$44.3 million) and a loan portfolio of approximately MNT 1,151 billion (c. US$321.2 million) as at 30 June 2026.

The Group remains actively engaged with all relevant lenders regarding the terms of the facility agreements and matters relating to the Covenant Breaches, and continues to work constructively with its lenders. Further updates will be provided to the market as and when appropriate.

Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.