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14.5¢ k-tig limited

Yep that's from 17th April, the day the company announced the...

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LOLStonks

42 Posts.

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14/06/24

17:43

Post #: 74322736
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Originally posted by alonso: ↑

Rapid welding equipment manufacturer K-Tig is back in business having escaped administration through a downsizing and refinancing operation.Administrators KordaMentha announced that creditors had approved a rescue package that will result in the company returning to normal operations recapitalised, and with a smaller cost base.Under a Deed of Company Arrangement, K-Tig management has been returned to the directors, new capital will be raised and creditors will be repaid through a Creditors Trust.

Roughly half the company’s existing staff will remain with the company, with others paid their entitlements in full.Administrator John Bumbak said: “The completion of the Deed of Company Arrangement made possible by the support of the companies (sic) directors together with the companies noteholders is a good outcome for the companies, their employees, creditors and shareholders.“The companies are now restructured with a reduced cost base, reduced and restructured debt profile and material additional working capital.”

AU Manufacturing
17/4/24

No I don't believe it either.

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Yep that's from 17th April, the day the company announced the deed arrangement, it's been silence since

KTG Price at posting: 14.5¢ Sentiment: Hold Disclosure: Held
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