Besra Gold Announces Quantum Metal Sdn Bhd Wind-Up Petition To Be Withdrawn
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.
News Market Reaction – BESAF
In the trading session that priced this news, BESAF declined 60.00%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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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