Legal Proceedings Report • Apr 25, 2025
Legal Proceedings Report
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Barramundi Group Ltd: Update on the restructuring process
Singapore, 25 April 2025, Barramundi Group Ltd. ("the Company") (EURONEXT: BARRA) – Reference is made to the stock exchange notice dated 19 February 2025 regarding the grant of an extension of the Moratorium Order.
The Company is pleased to announce that an agreement has been reached with the Company's principal secured creditor, United Overseas Bank Limited ("UOB"), on the main terms of a proposed restructuring of the Company's debt with UOB.
The details of the arrangement are currently being documented in a proposed Pre-packaged Scheme of Arrangement (the "Scheme"), the implementation of which is subject to approval of the High Court of Singapore (the "Court") pursuant to section 71 (1) of the Insolvency, Restructuring and Dissolution Act 2018.
As part of the process, the Company has today filed an application to the Court for an extension of the moratorium till 11 July 2025, which will otherwise expire on 11 May 2025.
Further updates will be provided as the restructuring process progresses.
For further inquiries, please contact:
James Kwan
Chief Executive Officer
Vanessa Tan
Chief Financial Officer
Email: [email protected]
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