Brief: ColorTV Ltd Says Effort Has Been Deployed By Directors To End Administration

Colortv

31/05/2023 09:16

May 31 (Reuters) - colorTV Ltd  CTV.AX :
    * BOARD NOTED THAT CO WAS PLACED INTO ADMINISTRATION WITHOUT
CONSULTATION OR APPROVAL OF BOARD AT TIME
    * SINCE THIS EVENT, EXTENSIVE TIME AND EFFORT HAS BEEN
DEPLOYED BY
DIRECTORS TO END ADMINISTRATION
    * DIRECTORS CONTINUE TO UNDERTAKE REVIEW TOGETHER WITH
PURSUING
ALL AVENUES TO GAIN ACCESS TO BOOKS AND RECORDS OF CO AND ITS US
UNITS
    * DIRECTORS HAVE REDUCED OVERHEAD COSTS OF CO TO A MINIMUM,
INCLUDING CEASING OF ALL DIRECTORS' PAYMENTS
    * EXPLORING ALL LEGAL OPTIONS AND RECOVERY ACTIONS AVAILABLE
TO IT
TO RECOVER LOANS AND ASSETS

Source text for Eikon:  ID:nASXb0tBGv 
Further company coverage:  CTV.AX 

 ((Reuters.Briefs@thomsonreuters.com;))