LionGold allays concerns over funding issues flagged by auditor
Singapore
LIONGOLD Corp, which has failed to get a clean bill of health from auditor PwC for its latest full-year financial results, has sought to assure shareholders that it is able to obtain sufficient funding for its operations.
In a clarification note released on Thursday, LionGold said that its directors and audit committee have reviewed its fund-raising initiatives and noted that while uncertainties exist, "there are reasonable grounds to believe that the company will be able to raise sufficient funds to enable the group to fund its operations in the next 12 months". Its fund-raising plans include a proposed rights-cum-warrants issue announced on June 30 to raise some S$18.5 million. LionGold said that, given the recent fall in its share price, it intends to revise the issue price to make the issue sufficiently attractive.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Indian billionaire Birla said to mull US$1.2 billion in Novelis IPO
Apple’s China iPhone shipments soar 12% in March after discounts
Indian banks to step up IT spends as regulatory scrutiny rises
Puma returns to sales growth in Americas despite ‘volatile’ market
Shell to sell Singapore oil refinery, chemicals assets to Glencore joint venture
AstraZeneca lifts FTSE 100 to record high