Dear Dr Neramit, further to out meetings and discussions in respect to the abovementioned matter I confirm that we are ready to proceed to the next stage of the transaction.
I have outlined below the proposed timetable and tranches.
However, please note the following:
1.From the date the full EBICS details are provided by YLG then it will take a minimum of seven (7) days before the first tranche is transferred. The reason for this is because there needs to be formal sign off by the account holder prior to the release ( this is a FORMALITY). However, this process wont begin until we receive YLG's full banking co ordinates. There will be NO DELAY for the second and subsequent transfers as the sign off is for the initial contract sum of 500m Euro.
2.The first tranche will be 20m Euro with the second at 30m Euro . All subsequent tranches thereafter will be at 100m Euro until all funds have been transferred.
3. Twenty Four ( 24) hours PRIOR to the first release ( and subsequent transfers as well), full banking details of the transferring bank will be provided to YLG. I have been informed that despite the fact that the funds currently reside in Deutsche Bank, the transferring bank to YLG will ultimately be HSBC.
TIMETABLE: TOTAL CONTRACT SUM 500 M EURO
First Tranche 20 m Euro on 23 rd June 2014
Second Tranche 30 m Euro ( this will be transferred within 2 days from disbursement of funds from first tranche).
Third and subsequent Tranches: 100 m Euro.
The above dates are based on YLG providing banks EBICS details on Monday 16 th June.
I look forward to hearing from you.
Regards Rob Hooper