Monday 15th May 2023 |
Text too small? |
Solution Dynamics Limited (SDL or Company) is pleased to announce it has received co-funding from New Zealand Trade and Enterprise’s (NZTE) International Growth Fund (IGF). The IGF is a contestable fund that aims to enable and accelerate international growth projects. The IGF co-funding will support a range of SDL’s market development activities in North America. The IGF provides 50:50 co-funding for eligible project costs up to a maximum of $600,000 from NZTE over a three-year period.
A condition of the co-funding for SDL is that SDL cannot make distributions that exceed 50% of net profit after tax (NPAT), without NZTE’s prior consent. The Directors have determined that it is in the best interests of the Company to utilise the IGF co-funding and have amended the dividend policy to operate with the lower dividend payout ratio cap of 50% for the duration of the co-funding period (November 2022 – November 2025). At the conclusion of the IGF co-funding period, the Directors will further review SDL’s dividend policy.
SDL thanks NZTE for its assistance, including direct in-market support, which has proved invaluable in the Company’s international development.
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes