Brief: Seafarms Group Says Entered Deed Of Arrangement For Project Sea Dragon

Seafarms

24/03/2023 10:24

March 24 (Reuters) - Seafarms Group Ltd  SFG.AX :
    * ENTERED DEED OF COMPANY ARRANGEMENT IN RESPECT OF PROJECT
SEA
DRAGON ON 24 MAR
    * AGREED TO MAKE A CONTRIBUTION OF A$3.5M WHICH IT WILL FUND
FROM
CASH RESERVES FOR PROJECT SEA DRAGON
    * EXPECT THAT SFG OPERATIONS WILL NOW RETURN TO NORMAL AND
THEY
WILL CONTINUE TO ASSESS ADVANCING PROJECT SEA DRAGON
    * FURTHER FUNDING TO ADVANCE PROJECT IS BEING SOUGHT FROM
THIRD
PARTY FUNDERS
    * UNDERSTANDS THAT A$53.5M CLAIM AMOUNTS WOULD HAVE BEEN DUE
OVER
ENTIRE TERM OF LEGUNE LEASE
    * ANTICIPATES THAT ITS SECURITIES WILL BE REINSTATED TO
TRADING ON
27 MAR

Source text for Eikon:  ID:nASX5NsBP0 
Further company coverage:  SFG.AX 

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