In total, Megachemhas received nearly $12.3 million in insurance compensation. The first payment of $1 million was paid in October 2023. The second payment of $2 million was paid in December 2023. The third payment of $4.9 million was paid in May.
“As our insurer has not completed their assessment, the company will provide updates to the shareholders if and when we receive any further material progress on this matter,” reads an Aug 23 announcement. “The insurance proceeds received this financial year is expected to contribute positively to the group’s financial performance for the current financial year ending Dec 31.”
Shares in Megachem closed flat at 36 cents on Aug 23.
