NNNCo Secures Funding to Continue Trading and Enters Sale Negotiations Amid Voluntary Administration

Kate Conneely and Barry Wight of Cor Cordis were appointed as Voluntary Administrators of National Narrowband Network Communications Pty Ltd (Administrators Appointed) ("NNNCo") on 15 November 2024.

The Administrators have secured a confidential funding agreement to ensure the continuity of NNNCo’s operations during the Voluntary Administration process. Business remains as usual, with all major projects progressing uninterrupted.

In a further development, the Administrators have entered into a confidential Exclusivity Deed with an interested party for the potential acquisition of NNNCo as a going concern. Active negotiations for the sale of the business and assets are ongoing, with completion anticipated on or around the second meeting of creditors, scheduled for 20 December 2024.

The Administrators express their appreciation for the strong support received from NNNCo employees, customers, and suppliers and will provide updates on the sale process as appropriate.

‍

‍

Media enquiries

Lidia Bufalino, National Marketing Director, lbufalino@corcordis.com.au

‍