REG - Scotgold Resources - Appointment of Administrators

Scotgold ResourcesAnnouncement

24/11/2023 10:15

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RNS Number : 6167U  Scotgold Resources Ltd  24 November 2023

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR
MAY HAVE QUALIFIED AS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

24 November 2023

 

Scotgold Resources Limited (Administrators Appointed)

("Scotgold", the "Company" or the "Group")

ACN 127 042 773

Appointment of Administrators and Resignation of Nominated Adviser

 

Appointment of Administrators

On 22 November 2023, the Company announced that it was it was considering the
appointment of administrators over the coming days.

As noted in the announcement SGZ Cononish Limited represents the only
substantive asset of the Company and it is still expected that SGZ Cononish
Limited will enter Administration in the coming days.

It is confirmed that, on 24 November 2023, the Board of Directors appointed Mr
Daniel Bredenkamp and Mr Christopher Pattinson ("Administrators") of Pitcher
Partners Accountants and Advisors (WA) Pty Ltd as Joint and Several
Administrators of Scotgold Resources Limited (Administrators Appointed)
pursuant to section 436A of the Corporations Act 2001 in Australia.

The Administrators have assumed control of the Company and will work with the
Board of Directors during the administration period to maximise the outcome
for all stakeholders of the Company.

The Administrators will provide updates throughout the administration by way
of announcements to the AIM and ask that shareholders refrain from contacting
the Administrators' office at this time.

In Australia, the Australian Securities and Investments Commission publishes
insolvency information sheets which provide information in relation to
external administrations in Australia. Shareholders may obtain copies of these
information sheets through the below link:

https://asic.gov.au/regulatory-resources/insolvency/insolvency-information-sheets/
(https://url.avanan.click/v2/___https:/asic.gov.au/regulatory-resources/insolvency/insolvency-information-sheets/___.YXAxZTpzaG9yZWNhcDphOm86OGUyOTEzMTVjNjhkNWIxZTQyOGFiNWUyNmM0NGU5ZjY6Njo4NThjOjA3YmRkM2QyYzI3Y2Y3MGYzOTAxZGNkNTc4Zjg0NmFhMjAwODljOGEyOGU2MjI1Y2Y1MzliMmFmOTg4YTExODk6cDpU)

Further announcements will be made as appropriate.

 

 

 

Resignation of Nominated Adviser

Shore Capital has informed the Company of its intention to resign as Nominated
Adviser and Broker to Scotgold with immediate effect of release of this
announcement. Pursuant to AIM Rule 1, if a replacement Nominated Adviser is
not appointed within one month of today's date, the admission of the Company's
shares to trading on AIM will be cancelled. The Administrators will consider
this issue in more detail over the next few weeks but based on the information
available at this stage the Company does not expect to appoint a replacement
Nominated Adviser.

 

Enquiries:

Pitcher Partners Accountants and Advisors (WA) Pty Ltd

Daniel Bredenkamp/ Christopher
Pattinson

Joint and Several Administrator

Contact: Tom Miller

P: +61 (0) 8 9322 2022

E: millert@pitcher-wa.com.au

 

**ENDS**

 

 

 

 

 

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