REG - Scotgold Resources - Planned Appointment of Administrators

Scotgold ResourcesAnnouncement

22/11/2023 07:15

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RNS Number : 1950U  Scotgold Resources Ltd  22 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.

22 November 2023

 

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

Planned Appointment of Administrators

 

On 7 November, the Company announced that it was considering the appointment
of Administrators over the coming days.

The board are continuing to work with advisors and expect to proceed with an
administration process for SGZ Cononish Limited soon.

In addition, Bridge Barn, who are the secured creditor over the assets of SGZ
Cononish Limited have notified the Company that they enforced their rights
under the loan agreement signed on 17 May 2018. These include rights over the
shares held by the Company in SGZ Grampian Limited.

SGZ Cononish Limited and SGZ Grampian Limited represent the only substantive
assets of the Company and as such the board are also exploring the appointment
of administrators in Australia over Scotgold Resources Limited.

Further announcements will be made in due course.

**ENDS**

 

 Scotgold Resources Limited

 Sean Duffy, interim CEO and CFO           Via Celicourt Communications

 Shore Capital (Nomad and Broker)          Tel +44 (0) 20 7408 4090

 Toby Gibbs / Tom Knibbs

 Celicourt Communications (Financial PR)   Tel +44 (0) 774 8843 871

 Felicity Winkles / Ariana Fanning

 

 

 

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