Update on DGR Global's proposed Deed of Company Arrangement for Armour Energy

DGR Global Ltd (ASX: $DGR) provided an update on the proposed Deed of Company Arrangement (DOCA) for Armour Energy Limited (ASX: $AJQ). The creditors of Armour Energy Limited have voted against DGR's DOCA proposals at the 2nd Meeting of Creditors, leading to the decision to place Armour Energy Limited into liquidation.

Executive Commentary on the Implications of the Vote

DGR is still evaluating the implications of the creditors' vote and the potential for further legal action. The company had tabled a DOCA aimed at catering to the interests of all stakeholders in Armour Energy Ltd Group, including shareholders.

Summary of DGR Global's Announcement

DGR Global Ltd (ASX: $DGR) provided an update on the outcome of the creditors' vote regarding the proposed Deed of Company Arrangement for Armour Energy Limited. The decision to place Armour Energy Limited into liquidation has prompted DGR to evaluate the implications of these results and consider the potential for further legal action. The company had aimed to address the interests of all stakeholders in Armour Energy Ltd Group, including shareholders, through its DOCA proposals. DGR Global Limited is known for its involvement in resource exploration, development, and mining companies, utilizing the skills of a core team of talented geoscientists to identify resource projects capable of yielding world-class discoveries of attractive commodities. The company provides initial seed funding and management support to secure assets in subsidiaries and develop these assets to more advanced funding stages. DGR has a pipeline of projects in group companies at various stages of emergence and is expected to see further development of its holdings in listed companies during Q3 & Q4 2023. The company is still evaluating the implications of the recent vote and will provide further information to the market once it becomes available.