Beston Global Food Company Limited (ASX:BFC) Administration Announcement

Beston Global Food Company Limited (ASX:BFC) has announced that KPMG has appointed voluntary administrators, including Partners Tim Mableson, James Dampney, Gayle Dickerson, and David Kidman, to undertake an immediate assessment of the business and its operations. The shares of Beston Global Food Company Limited (Administrators Appointed) will remain suspended from trading during the administration process. The first statutory meeting of creditors is scheduled to take place on 2 October 2024 at 12:00pm ACST.

Administrators' Intention and Process

The Administrators have just commenced the Administration process and are focused on assessing options and notifying stakeholders of the appointment. Their current intention is to continue trading Beston while exploring options for its sale and/or recapitalization. Interested parties who wish to recapitalize and/or acquire Beston or any of its assets are urged to urgently contact the Administrators at beston@kpmg.com.au.

Outlook and Stakeholder Information

KPMG has appointed voluntary administrators to Beston Global Food Company Limited (ASX:BFC) to assess the business and its operations, with the priority being to undertake an immediate assessment of the business and its operations to assess options and notify stakeholders of the appointment. The shares of Beston Global Food Company Limited (Administrators Appointed) will remain suspended from trading during the administration process. The Administrators' current intention is to continue trading Beston while exploring options for its sale and/or recapitalization. Interested parties who wish to recapitalize and/or acquire Beston or any of its assets are urged to urgently contact the Administrators at beston@kpmg.com.au. The first statutory meeting of creditors is scheduled to take place on 2 October 2024 at 12:00pm ACST.