Cradle Arc PLC - Application for Provisional Liquidation of Leboam
Application for Provisional Liquidation of
This follows the Company's announcement on
The Company has been notified that Fujax and Leboam's 40 per cent. shareholder have made a separate application to the
Although operations at the mine have been suspended, significant remedial action has been performed on the process plant, the water provision from its wellfield and various other infrastructural elements of the mine. Rental agreements for mining equipment have been cancelled, and equipment removed from site pending settlement of outstanding and overdue creditor balances.
"While it is unfortunate that we have had to take this step, provisional liquidation as opposed to final liquidation is by no means the end for Mowana, but rather provides the Company an opportunity to continue talks, along with the provisional liquidator, for a sustainable funding solution at the mine.
For further information on the Company, please visit www.cradlearc.com or contact:
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Tel: +44 (0)20 7637 5216
Tel: +44 (0)20 7409 3494
Tel: +44 (0)20 3470 0470
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Tel: +44 (0)20 7920 3150
M: +44 (0)79 7729 7903
M: +44 (0)77 8597 4264
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
This information is provided by RNS, the news service of the
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