Brief: MLG Oz Says Has Now Fully Decommissioned Two Plants To Purchaser

MLG Oz

09/06/2023 02:15

June 9 (Reuters) - MLG OZ Ltd  MLG.AX :
    * HAS NOW FULLY DECOMMISSIONED TWO PLANTS AND TRANSPORTED
ALL
COMPONENTS TO PURCHASER
    * A$7.0M FOR INSTALMENT 3 IS NOW EXPECTED AND DUE TO BE
RECEIVED
IN LINE WITH PROVISIONS UNDER ASSET SALE AGREEMENT
    * AS OF JUNE 9, NET PROCEEDS RECEIVED TOTAL A$11.4M WHICH
INCLUDED
DECOMMISSIONING AND TRANSPORTATION COSTS
    * NON-CASH LOSS ON SALE OF PLANTS ANTICIPATED TO BE CIRCA
A$6.0M
    * A$17.0M NET PROCEEDS WILL REDUCE MLG'S DEBT POSITION &
PROVIDE
ADDITIONAL WORKING CAPITAL INTO BUSINESS

Source text for Eikon:  ID:nASX2r7RVS 
Further company coverage:  MLG.AX 

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