Salvus to return $17M from disposal of assets after shareholders voted for wind-up

Salvus Strategic Investments will distribute $17 million in cash to its shareholders after they voted to wind up and liquidate the investment group.

Salvus, which invests in smaller-cap New Zealand companies, is to be delisted and a liquidator appointed.

The payment amounts to 81.41 cents a share, the company said in a statement today. Anything left over from funds held back to pay liquidation costs would subsequently be distributed, which could amount to a further 1 cent a share, it said.

Shareholders approved the plan at a special meeting on Oct. 19.

The company will attach $1.5 million of imputation credits reflect on the payment, meaning some shareholders won’t need to pay tax on that amount. The record date is Nov. 21 and the payment date Nov. 28.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Gaynor appointed to Salvus board
Salvus trimmed holdings of Abano, Methven