Field Solutions Holdings Limited (ASX:FSG) Appoints Receivers and Administrators
Appointment of Receivers and Administrators
Rob Smith and Matthew Hutton of McGrathNicol were appointed as Receivers and Managers of Field Solutions Holdings Limited (ASX:FSG) and its subsidiaries. Concurrently, Barry Wight and Daniel Juratowitch of Cor Cordis were appointed as Voluntary Administrators.
Control and Operations
Control of the Group now rests with the Receivers, who intend to continue trading on a business-as-usual basis while pursuing sale options or a recapitalisation through the voluntary administration process.
Securities Suspension
The Company’s shares are expected to remain suspended until further notice, with additional information to be provided in due course.
Sale and Recapitalisation Campaign
The Receivers will commence a sale and recapitalisation process, anticipating a Deed of Company Arrangement proposal. Interested parties can contact Mark Batrouney of McGrathNicol at fsg-sale@mcgrathnicol.com or +61 3 9038 3160.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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