Energy World Corporation Ltd (AU:EWC) has released an update.
Energy World Corporation Ltd has reached a settlement with Hankuk Carbon Co Limited, involving a deferred payment plan concluding in November 2024, with an initial payment of USD 3 million already made. The settlement’s impact was uncertain until the agreement was finalized, but the company confirms that no additional capital raising is needed due to a AUD 20 million loan facility with its major shareholder, Energy World International. The financial effects of the settlement are considered non-material, as the costs constituted less than 0.5% of the company’s total liabilities.
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