Midway Ltd (AU:MWY) has released an update.
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Midway Limited faces financial challenges as a key customer, Shandong Chenming Paper Holdings, defaults on contracts, impacting Midway’s expected FY25 earnings to be at the lower end of their target. However, Midway anticipates receiving up to $5.2 million from Tiwi Plantation Corporation as part of an insurance claim settlement. The company continues discussions with River Capital to finalize a shareholder meeting regarding their strategic plans.
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