Brief: Barramundi Starts Reconstruction Of Australian Operations

Barramundi

24/05/2023 07:25

May 24 (Reuters) - Barramundi Group Ltd  BARRA.OL :
    * BARRAMUNDI GROUP: STARTS RECONSTRUCTION OF AUSTRALIAN
OPERATIONS
    * SALE OF THE AUSTRALIAN OPERATIONS ORGANISED IN MARINE
PRODUCE
AUSTRALIA PTY LTD HAS NOT BEEN FINALISED, AS BUYER HAS NOT BEEN
ABLE TO ATTRACT NECESSARY FUNDING
    * BUSINESS WILL NOW UNDERGO RECONSTRUCTION
    * ADMINISTRATORS ARE CURRENTLY MAKING AN ASSESSMENT OF MPA
GROUP'S
POSITION WITH A VIEW TO UNDERTAKING A RESTRUCTURE OR
RECAPITALISATION OF MPA GROUP IN LINE WITH OBJECTIVES OF
VOLUNTARY ADMINISTRATION PROVISIONS OF ACT
    * ADMINISTRATORS INTEND TO CONTINUE TO OPERATE MPA GROUP ON
A
'BUSINESS AS USUAL' BASIS WHILE EXPLORING OPTIONS FOR A SALE
AND/OR RECAPITALISATION OF MPA GROUP

Source text for Eikon:  ID:nObiJFfbZa 
Further company coverage:  BARRA.OL 

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