Group 6 Metals voluntary suspension request details

Group 6 Metals Limited (ASX:G6M) has requested a voluntary suspension in the trading of its ordinary shares on the Australian Securities Exchange (ASX) effective from Friday, 27 September 2024. The suspension is sought pending the release of an announcement regarding a potential transaction related to the recapitalisation. The company is currently engaged in confidential and incomplete negotiations with multiple parties, including the Company's Senior Secured Lending Group, in respect of this potential transaction.

Company's rationale for voluntary suspension

The potential transaction, which is anticipated to include a material cash injection into the Company, is critical to resolving the Company's genuine financial difficulties and is expected to have a material beneficial impact on the Company's financial position. The company believes that the continued trading of its securities pending the outcome of these negotiations would risk the market trading on an uninformed basis, particularly given the uncertainty around the outcome of the recapitalisation process and the critical nature of the potential transaction. Therefore, the voluntary suspension is requested to allow the company to progress these discussions in an orderly fashion.

Summary of Group 6 Metals voluntary suspension request

Group 6 Metals Limited (ASX:G6M) has requested a voluntary suspension in trading to facilitate negotiations for a potential transaction related to the recapitalisation. The company is currently engaged in confidential and incomplete negotiations with multiple parties, including the Company's Senior Secured Lending Group, in respect of this potential transaction. The company expects to make the announcement to the market before the commencement of normal trading on 31 October 2024. The voluntary suspension is sought to avoid the risk of the market trading on an uninformed basis and to allow the company to progress these discussions in an orderly fashion, with the aim of achieving a successful recapitalisation.