GGRAsia – Silver Heritage suspended on ASX pending finance news

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Silver Heritage suspended on ASX pending finance news

Sep 05, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck

Silver Heritage suspended on ASX pending finance news

Asian casino operator and developer Silver Heritage Group Ltd said in a Wednesday filing that its shares were being suspended from quotation on the Australian Securities Exchange (ASX) “immediately”. The firm added that the suspension was “pending the release of an announcement regarding a capital raising and amendments to the terms of bonds”.

The firm had said in a Monday filing detailing its interim results – issued shortly after trading in the stock was suspended – that it was “currently working on a capital raising”. The firm stated at the time that the details of the capital raising exercise were “still being finalised”.

The company significantly widened its first-half loss, “mainly due” to additional costs and depreciation associated with its first purpose-built, self-managed property, Tiger Palace Resort Bhairahawa, in Nepal.

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