SGX/MEDIA RELEASE For Immediate Release
Singapore and Australia
16 February 2022
Company Registration Number 200413014R
438B Alexandra Road #05-08/09 Alexandra Technopark,
Singapore 119968
Response to SGX Query on second quarter financial results to 31 December 2021
The Board of Directors (the "Board") of AusGroup Limited (the "Company" or "Group") would like to respond to the query from the Singapore Exchange Securities Trading Limited (the "SGX-ST") regarding the second quarter financial results to
31 December 2021 released on 9 February 2022. The Company sets out below its response to the query:
We refer to the Company's second quarter financial results for the period ended 31 December 2021.
We note that the Group is in a net current liabilities position of AU$5.1m, mainly due to its Multi Currency Notes ("MCN") of AU$40.6m maturing on 3 December 2022. Please elaborate further on how the Group intends to repay or refinance the MCN, given that the Group currently only has AU$11.8m in cash.
Company's response to SGX-ST question
As disclosed on page 23 of the quarterly financial statements to 31 December 2021, "The Group is focused on options to reduce and/or restructure debt prior to the maturity dates in 2022 and 2023 and bolster working capital to support the expansion of services to its clients. The capital management options being pursued by the Group to efficiently manage its working capital requirements and debt obligations include: non-core asset/business sales; financing secured by core assets; equity injection and debt facilities."
The Group will pursue all of these options to enable the Group to repay, partly repay and/or refinance the MCN debt obligation and we will provide more information when these options reach a stage that they become disclosable events.
By Order of the Board
Shane Francis Kimpton
Managing Director
16 February 2022
Ends
Issued by AusGroup Limited.
For information, please contact Christian Johnstone
T +61 8 6210 4500 | Echristian.johnstone@ausgroupltd.com
ABOUT AUSGROUP LIMITED (Bloomberg Ticker: AUSG.SP)
Main board-listed, AusGroup Limited is an energy and resources specialist providing fabrication, precision machining, construction and integrated services to natural resource development companies. The Company also provides access services for construction and maintenance contracts through MAS Australasia Pty Ltd (MAS). AusGroup has an established operations network strategically positioned throughout Australasia. For more information visit www.ausgroupltd.com
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AGL - AusGroup Limited published this content on 16 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 February 2022 09:00:00 UTC.