The receivers appointment on 19 February occurred alongside FSG’s board resolving to appoint Barry Wright and Daniel Juratowitch of Cor Cordis as voluntary administrators.
Control of the group now rests with the receivers who intend to continue to trade on a business-as-usual basis while pursuing sale options or a recapitalisation through the voluntary administration process.
Shares in the company will continue to be suspended until further notice.
The rural, regional and remote telecommunications carrier and full-service ICT provider, entered into a binding agreement on 19 February to sell its mining customer base to PIT Mining IT for $4.975 million. This included 80 customers and 21 staff transitioning to…
