Buyer search no longer exclusive as main Silver Heritage candidate misses second deposit deadline
Silver Heritage Group will recommence its search for a buyer of its Nepal assets after the original offeror missed a deposit deadline for the second time. The company revealed on Wednesday that local businessman Indra Bahadur Thapa, who made a...
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Silver Heritage halts preparation of financial statements on a going concern basis as sale looms
Nepal casino operator Silver Heritage Group appears to be edging ever closer to selling its remaining assets after revealing it will no longer prepare its financial statements on a going concern basis. In an ASX announcement issued early Tuesday, Silver...
Silver Heritage says Tiger Palace sale on hold after potential buyer misses deposit deadline
The sale of Silver Heritage Group’s Nepal assets remains in limbo after the potential buyer failed to deposit US$3 million into an escrow account by a previously agreed 15 August deadline. Providing an update on Tuesday, Silver Heritage revealed it...
Silver Heritage defends land encroachment allegations
Australian-listed Silver Heritage Group has defended itself against an injunction alleging its Nepal IR, Tiger Palace Resort, has encroached on four plots of land belonging to a public canal and another belonging to the government. In an ASX filing following...
Silver Heritage considering US$34 million offer to purchase all Nepal assets
Australian-listed Silver Heritage Group has moved one step closer to selling off its Nepal integrated resort, Tiger Palace Resort Bhairahawa, after confirming it has received a conditional, binding offer. The offer, from a Mr Indra Bahadur Thapa, would see him...
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Silver Heritage yet to see any court documents on alleged Tiger Palace land encroachment
Southeast Asian casino operator Silver Heritage Group says it has not been served with any official documents relating to reports that a Nepalese court had issued a temporary order against the sale or further development of Tiger Palace Resort. According...
Nepal court blocks sale, development of Tiger Palace Resort over alleged land encroachment
A Nepalese court has issued a temporary order preventing Silver Heritage Group from either selling Tiger Palace Resort or developing the property any further due to alleged encroachment onto public land. According to the Kathmandu Post, the Rupandehi District Court...
Silver Heritage in “advanced discussions” over capital raising options
The Chairman of Australian-listed Silver Heritage Group, James Spenceley, says management is in “advanced discussions” regarding the company’s financial future as it weighs its options to raise much-needed capital, including the potential sale of flagship Nepal IR, Tiger Palace Resort.
