Murray & Roberts

Murray & Roberts is facing severe liquidity issues, mainly due to losses from its OptiPower division and the descoping of the Venetia contract. The company’s board has resolved to initiate voluntary business rescue proceedings to stabilize its financial position. Non-core assets will be sold to address debt of R409m. Murray’s core underground mining businesses remain unaffected and continue as going concerns. The board also applied for a voluntary suspension of trading in the company’s shares.
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