Good morning

We would appreciate more clarity on the following please.

Is Nuran still in default with Gilat, because this was due to be repaid by July? We haven't seen any announcement on the restructuring of this? Why is it taking so long and when is it likely to be resolved?

When is the default date for Halevi (non convertible US$1.654 million to be repaid)? Is it October 4th which is 6 months after the initial $400K was advanced, or 25th October which is 6 months after the balance of the $1.5 million was advanced? If Halevi is not repaid on time, what is the consequence, is it expected that Halevi will be open to renegotiating the loan agreement to remove the default? Is it a risk that Halevi possibly can get tough and force Nuran into administration since it has security which is senior to all other debts and sees an opportunity to get full control of Nuran Canada?

If Nuran is in default with Gilat and/or Halevi, does this prevent EIB signature? Does the EIB loan agreement include the usual warranties that Nuran is not in default on any debt contract, or any other contract? And also clauses that mean a subsequent event of default on any debt agreement would automatically trigger a default on all other debt agreements including EIB? Does this then mean November would be the earliest for an EIB signature after (if) Gilat and Helevi are renegotiated during October?

Thanks for more clarity on these points.

wbr2