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BRIEF-McAleese appoints voluntary administrators

Published 29/08/2016, 09:05 am
Updated 29/08/2016, 09:10 am
© Reuters.  BRIEF-McAleese appoints voluntary administrators

Aug 29 (Reuters) - McAleese Ltd MCS.AX :

* Appointment of voluntary administrators

* Voluntary administrators appointed to oversee affairs of company and of those companies listed in the attached schedule

* Joseph David Hayes, Jason Preston, William James Harris and Keith Alexander Crawford of McGrath Nicol appointed administrators

* Mcaleese's uncompromised senior debt and all accrued interest was immediately due and payable

* McAleese is now in voluntary administration and shareholders are highly unlikely to receive any value for their existing shares

* TTPH condition was not satisfied and failure to meet that condition was not waived by sc lowy consortium

* Understands that SC Lowy consortium and Rowsthorn interests will continue to seek to implement an alternative transaction

* SC Lowy Consortium declined to enter into any new forbearance arrangement

Source text for Eikon ID:nASX6ch8Jk

Further company coverage: MCS.AX

Bangalore.newsroom@thomsonreuters.com

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