Salt Lake Potash Limited Appointment of Receivers and Managers (6429P)

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RNS Number : 6429P

Salt Lake Potash Limited

20 October 2021

 
 20 October 2021   AIM/ASX Code: SO4 
 
 
        SALT LAKE POTASH LIMITED 
  APPOINTMENT OF RECEIVERS AND MANAGERS 
---------------------------------------

Salt Lake Potash Limited (Administrators Appointed) (Receivers and Managers Appointed) ACN 117 085 748 and its subsidiaries outlined in Schedule 1 ('the Group')

Notice is hereby given that Richard Tucker and Craig Shepard of KordaMentha were appointed as Receivers and Managers of each company in the Group on 20 October 2021 pursuant to security interests duly registered on the Personal Property Securities Register.

Their appointment as Receivers and Managers of the Group followed the appointment of Martin Jones, Tom Birch and Hayden White of KPMG as Voluntary Administrators of each company in the Group earlier on 20 October 2021.

The effect of the appointment is that the Receivers and Managers are now in control of the Group's assets, undertakings and operations. The Receivers and Managers are conducting an urgent assessment of the Company's financial position as operations continue as usual.

The Receivers and Managers will commence a process to market the Company and its assets for sale and recapitalisation opportunities in the coming weeks. Interested parties should contact the Receivers and Managers to lodge an expression of interest.

The contact details of the Receivers and Managers are:

KordaMentha

Level 10, 40 St Georges Terrace

Perth WA 6000

Tel: +61 8 9220 9333

Email: saltlakepotash@kordamentha.com

Media should contact Mike Smith from Inside PR 0411 055 306.

Shareholder queries should be directed to KPMG. Contract details are: KPMG

235 St Georges Terrace Perth WA 6000

Tel: +61 8 9263 7171

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 
 Schedule 1                                                       ACN 
 
  Company (all Administrators appointed) (all Receivers 
  and Managers appointed) 
--------------------------------------------------------  ----------- 
 SO4 Fertiliser Holdings Pty Ltd                          633 114 628 
 SO4 Fertiliser Developments Pty Ltd                      634 354 224 
 Two Lake Holdings Pty Ltd                                633 114 637 
 Two Lake Developments Pty Ltd                            634 354 233 
 Piper Preston Pty. Ltd.                                  142 962 409 
 Australia Salt Lake Potash Pty. Ltd.                     164 369 420 
 Irve Holdings Pty Ltd                                    633 114 619 
 Irve Developments Pty Ltd                                634 354 215 
--------------------------------------------------------  -----------

For further information, please contact:

 
              KPMG                                                     Tel: +61 8 9263 7171 
                                                                        au-fmperreception@kpmg.com.au 
              Grant Thornton UK LLP (Nominated Adviser)                Tel: +44 (0) 20 7383 5100 
               Colin Aaronson / Lukas Girzadas

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END

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October 20, 2021 02:24 ET (06:24 GMT)

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