Barramundi Group Ltd (“the Company”) (EURONEXT: BARRA) – Reference is made to the stock exchange notice dated 19 September 2023 regarding the Company’s former Australian operations, and the stock exchange notice dated 28 February 2024 regarding progress on financing of the Company’s operations in Brunei.
The resolution of the Australian operations and the meeting of immediate financing requirements in the Brunei operations marked key milestones in the critical restructuring of the Group’s subsidiaries.
Further to its restructuring efforts at the subsidiary level, the Company is now working with its financial advisors, KordaMentha Pte Ltd (“KordaMentha”), to implement a comprehensive restructuring scheme at the holding company. Their expertise will be instrumental in guiding the Company through the process of solidifying a restructuring plan that is aimed at securing the financial sustainability of the Company.
While the specifics of this restructuring is being fine-tuned, it is expected to materially affect the value of the Company’s shares.
The Company is committed to working closely with KordaMentha to finalize a strategy that will lead to a best possible outcome for all stakeholders.
Further updates will be provided as the restructuring process progresses.
For media and investor inquiries, please contact:
James Kwan Chief Executive Officer Barramundi Group Telephone: +65 6261 0010 Email: investors@barramundi.com
Vanessa Tan Chief Financial Officer Barramundi Group Telephone: +65 6261 0010 Email: investors@barramundi.com