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Silver Heritage Group (ASX:SVH) - CEO & Managing Director, Mike Bolsover
CEO & Managing Director, Mike Bolsover
Source: Finance News Network
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  • Regional gaming operator Silver Heritage Group (SVH) has today entered voluntary administration
  • As previously announced, the company had been exploring ways to generate liquidity, and before the COVID-19 pandemic hit, Silver Heritage had received expressions of interest from several parties
  • However, as COVID-19 became more present, these expressions of interest became uncertain
  • Even though Silver Heritage’s main lender OCP provided US$1.5 million in funding in January 2020, the company has been advised by OCP that it is unwilling to provide any more capital
  • Shares in Silver Heritage have been trading steady for one cent each since February 2019

Regional gaming operator Silver Heritage Group (SVH) has today entered voluntary administration.

As previously announced, the company had been exploring ways to generate liquidity, and before the COVID-19 pandemic hit, Silver Heritage had received expressions of interest from several parties.

However, as COVID-19 became more present and the forced temporary closures of its Nepal facilities, the timing of putting these expressions of interests into motion has become uncertain.

Even though Silver Heritage’s main lender OCP provided US$1.5 million in funding in January 2020 to support the short-term funding needs, Silver Heritage has been advised by OCP that it is unwilling to provide any more capital.

Silver Heritage has appointed KPMG as administrators and is currently assessing the company’s financial position.

Further updates regarding any findings will be made if received.

Shares in Silver Heritage have been trading steady for one cent each since February 2019. The company has a market cap worth $12.61 million.

SVH by the numbers
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