Alita Resources suspends trading after going into voluntary administration

The KPMG receivers said on Friday that they are completing an urgent assessment of Alita Resources’ financial position, but “with the intention of transitioning operations to care and maintenance shortly”.

Alita Resources applied to the Singapore Exchange on Aug 29 seeking extensions of time to announce its financial results for fiscal 2019 by Nov 1, and to issue its annual report by Nov 29. It also requested for a two-month extension to convene its FY2019 annual general meeting as well as a one-month extension to issue its sustainability report, both by Jan 3 next year.

The company and its secured lenders had previously extended the standstill period for the loan several times, to allow more time for discussions on refinancing options and recapitalisation proposals.Alita Resources shares last traded at 7.8 Singapore cents on Aug 8.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Alita Resources suspends trading after going into voluntary administrationSINGAPORE - Catalist-listed lithium miner Alita Resources suspended trading of its shares on Tuesday morning (Sept 3), days after administrators and receivers were appointed in relation to its default on a secured A$40 million (S$37.4 million) loan.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Alita Resources suspends trading after going into voluntary administrationSINGAPORE - Catalist-listed lithium miner Alita Resources suspended trading of its shares on Tuesday morning (Sept 3), days after administrators and receivers were appointed in relation to its default on a secured A$40 million (S$37.4 million) loan.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »