Besra Gold Announces Quantum Metal Sdn Bhd Wind-Up Petition To Be Withdrawn

Besra Gold Inc. (ASX: BEZ) has announced a significant development regarding the winding-up petition against Quantum Metal Sdn Bhd (QM Malaysia).

Rhea-AI Summary

Besra Gold Inc. (ASX: BEZ) has announced a significant development regarding the winding-up petition against Quantum Metal Sdn Bhd (QM Malaysia). Following their previous announcement from November 11, 2024, the company has confirmed receiving a letter from the Inland Revenue Department stating their agreement to withdraw the petition that was initially presented by the Government of Malaysia to the High Court of Malaysia.

Positive

• Withdrawal of winding-up petition against QM Malaysia reduces legal and operational uncertainty
• Resolution of tax authority issues demonstrates improved regulatory compliance

Negative

• None.

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Melbourne, Victoria, Australia--(Newsfile Corp. - January 8, 2025) - Besra Gold Inc. (ASX: BEZ) (referred to as" Besra or the Company") would like to reference its announcement from 11 November 2024 regarding the petition for winding-up by the High Court of Malaysia (the Petition) of Quantum Metal Sdn Bhd (incorporated in Malaysia) (referred to as QM Malaysia) that was presented by the Government of Malaysia.

Besra is pleased to confirm that QM Malaysia has provided Besra with a letter from the Inland Revenue Department confirming that they have agreed to and are in the process of withdrawing the Petition.

This announcement was authorised for release by Mr Kenny Lee — Executive Director.

Michael Higginson
Director and Company Secretary

N. American Contact:
James Hamilton
Investor Relations Services
M +1-416-471-4494
E jim@besra.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236434

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the status of the winding-up petition against Quantum Metal Sdn Bhd (BESAF)?

The Inland Revenue Department has agreed to withdraw the winding-up petition against Quantum Metal Sdn Bhd, as confirmed by Besra Gold through a letter from the department.

When was the original winding-up petition against Quantum Metal announced by Besra Gold (BESAF)?

The original winding-up petition was announced by Besra Gold on November 11, 2024.

Who filed the original winding-up petition against Quantum Metal (BESAF)?

The Government of Malaysia filed the original winding-up petition against Quantum Metal Sdn Bhd through the High Court of Malaysia.

What is the significance of the petition withdrawal for Besra Gold (BESAF)?

The withdrawal of the petition reduces legal uncertainty and demonstrates resolution of regulatory issues with Malaysian tax authorities, which is positive for the company's operations.