Beskrivning
| Land | Singapore |
|---|---|
| Sektor | Handel & varor |
| Industri | Dagligvaror |
2024-09-06 17:31:31
Singapore, 6 September 2024, Barramundi Group Ltd ("the Company") (EURONEXT:
BARRA) - Reference is made to the stock exchange notice dated 19 September 2023
regarding the Company's former Australian operations, and the stock exchange
notice dated 28 February 2024 regarding progress on financing of the Company's
operations in Brunei.
The resolution of the Australian operations and the meeting of immediate
financing requirements in the Brunei operations marked key milestones in the
critical restructuring of the Group's subsidiaries.
Further to its restructuring efforts at the subsidiary level, the Company is now
working with its financial advisors, KordaMentha Pte Ltd ("KordaMentha"), to
implement a comprehensive restructuring scheme at the holding company. Their
expertise will be instrumental in guiding the Company through the process of
solidifying a restructuring plan that is aimed at securing the financial
sustainability of the Company.
While the specifics of this restructuring is being fine-tuned, it is expected
to materially affect the value of the Company's shares.
The Company is committed to working closely with KordaMentha to finalize a
strategy that will lead to a best possible outcome for all stakeholders.
Further updates will be provided as the restructuring process progresses.
DISCLOSURE REGULATION
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange
release was published by Vanessa Tan, Chief Financial Officer, Barramundi Group
Ltd.
For further enquiries, please contact:
James Kwan
Chief Executive Officer
Vanessa Tan
Chief Financial Officer
Email: investors@barramundi.com