Blackgold Natural Resources Limited: Latest Update on Judicial Management and Creditor Approvals

Key Points From the Monthly Update

• Judicial Management Extended: The High Court has ordered an extension of Blackgold Natural Resources Limited’s Judicial Management period for six months, effective from 24 January 2026 to 23 July 2026. This also extends the term of the current Judicial Manager, Mr. Farooq Ahmad Mann.
• Revised Proposal Approved Unanimously by Creditors: At the creditors’ meeting held on 31 December 2025, 100% of the Company’s creditors approved the Revised Proposal submitted by PT Rajawali Artha Global (“RAG”). This proposal was outlined in RAG’s letter to the Judicial Manager dated 18 November 2025.
• Legal Proceedings: The extension application was heard before the High Court on 19 January 2026. The Court granted the extension under Section 111(3)(a) of the Insolvency, Restructuring and Dissolution Act 2018. Importantly, the Court ordered that there would be no order as to costs for this application.
• Ongoing Updates: The Company has stated that further updates will be provided as and when appropriate.
• Advisory for Investors: Shareholders and potential investors are strongly advised to carefully read this and subsequent announcements. The Company recommends consulting professional advisors if there is any uncertainty regarding investment actions.
• Announcement Review: The announcement has been reviewed by Evolve Capital Advisory Private Limited (the Sponsor), but not by the Singapore Exchange Securities Trading Limited (SGX), which assumes no responsibility for its content.
• Sponsor Contact: For queries, investors can contact Mr. Jerry Chua at Evolve Capital Advisory Private Limited.

Implications and Potential Price Sensitivities

• Positive Sign of Creditor Support: The unanimous approval of RAG’s Revised Proposal is a significant development, demonstrating creditor confidence in the Company’s restructuring plan. This could be perceived positively by the market, potentially impacting share price sentiment.
• Judicial Management Extension: The six-month extension provides the Company and its Judicial Manager more time to implement the approved restructuring proposal. This may reduce uncertainty regarding the Company’s future, although it also signals that the restructuring process is ongoing and not yet resolved.
• No Cost Order: The High Court’s decision not to order costs in the extension application removes a potential financial burden from the Company during this period.
• Continued Risk and Uncertainty: Despite creditor approval and the extension, Blackgold Natural Resources Limited remains under Judicial Management. Investors should be aware that the Company is still in a restructuring phase, and outcomes remain uncertain until the process is complete.
• Potential Share Price Movement: The receipt of unanimous creditor support and the judicial extension may be viewed as positive steps towards recovery, but the ongoing nature of Judicial Management and lack of final resolution means volatility and risk remain.
• Regulatory Note: As the announcement has not been approved by SGX, investors should exercise additional caution and seek professional advice if unsure about the implications.

What Investors Should Do

Shareholders and potential investors are advised to monitor Company announcements closely in the coming months, as any further developments in the restructuring process or Judicial Management may have direct implications for share value. Consulting with professional advisors is strongly recommended when making investment decisions related to Blackgold Natural Resources Limited at this stage.

Disclaimer: This article is a summary and analysis of the Company’s official announcement for informational purposes only. It does not constitute financial advice or a recommendation to buy, sell, or hold shares of Blackgold Natural Resources Limited. Investors should consult with their own financial or legal advisors before making any investment decisions. The information provided herein is based on Company disclosures and may be subject to change as further updates are released.

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