A company controlled by businessman Larry Goodman is to make up to €6.35m available to Barryroe Offshore Energy (BOE), which is currently in examinership, as part of a rescue package.
The development comes as BOE announced that Chief Financial Officer, Colin Christie, has stood down and left the company.
"In addition, the Investor has committed to make available further funding in the amount of €5,000,000 upon agreement of an appropriate business plan, to be supplemented in due course by substantial additional funds as required to invest in future business plan prospects," Barryroe said. "The entire Board of Directors of the Company has committed to stand down as soon as practicable following the implementation of the Proposals, and in any event not later than 30 November 2023," it said.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Larry Goodman commits up to €6.35m to rescue Barryroe from examinershipRescue plan would see billionaire take full control of oil and gas explorer
Read more »
‘We’d love it’: The Edge on U2 returning with Larry Mullen jnr to the Las Vegas Sphere in 2024U2’s residency-opening show went ‘way better than I ever could have expected or hoped for’, says the band’s guitarist
Read more »
Larry Goodman commits up to €6.35m to rescue Barryroe from examinershipRescue plan would see billionaire take full control of oil and gas explorer
Read more »
TMF Group acquires Goodbody Fund ManagementDutch firm will now manage more than $300 billion worth of assets
Read more »