Information  X 
Enter a valid email address
  Print      Mail a friend       More announcements

Friday 15 March, 2019

EF Realisation Comp

Cash Distribution

RNS Number : 0595T
EF Realisation Company Limited
15 March 2019
 

EF Realisation Company Limited (In Liquidation) ("EF Realisation")

Progress in Realising Investments and Third Distribution

EF Realisation has continued to make progress in realising its investments and has now realised a total equivalent of GBP 2.8m from its investment in Eastern Australia Irrigation Ltd ("EAI").  

EF Realisation is committed to passing realisation proceeds to its shareholders as soon as reasonably practical once the proceeds reach material amounts, and a third distribution of 5.8 pence per EF Realisation share has been authorised on 15 March 2019. Due to processing costs, cash distribution will not be made for sums of £10 or less.

This cash distribution will be made through CREST for EF Realisation shareholders holding their shares in CREST or by cheque for other shareholders on or about 1 April 2019.

Please note that this distribution may have tax consequences and should therefore be reflected in your tax return for the current fiscal year. You are advised to contact your financial adviser should you have any queries regarding the above.

The table below shows the distributions made by EF Realisation since it was placed into liquidation on 24 September 2018, and the distribution authorised on 14 March 2019.

Distribution

Date Authorised

Qualifying Shareholders

Non-Qualifying Shareholders

1st Distribution

27 September 2018

Lonestar shares

c.54.7 pence per share

2nd Distribution

12 November 2018

4.5 pence per share

4.5 pence per share

3rd Distribution

14 March 2019

5.8 pence per share

5.8 pence per share

 

In the Shareholder Circular dated 10 September, 2018, EF Realisation included an indicative calculation for expected distributions, excluding Lonestar-related distributions totalling 22.1p per share. Excluding the initial Lonestar distribution, distributions to date total to 10.3p per share.

The Joint Liquidators continue to seek the realisation of the other material remaining asset, being the investment in water rights in Arizona known as "TRF Interests". At present it is not possible to provide an estimation of the timing or amount of any realisation from this investment, and it is not known when further distributions may be paid.

 The Joint Liquidators do not intend to release any further announcement until the Annual Report and AGM in October 2019, unless further realisations are achieved before then.

Please address any further queries to Jeanne Lee, Grant Thornton Limited, Kensington Chambers, 46/50 Kensington Chambers, St Helier, Jersey, JE1 1ET (+44(0)1534 885812, [email protected]) or to the EF Realisation's investment advisor, Dr Chris Rowland, at [email protected].

BNP Paribas Securities Services

Company Secretary

Telephone: +44 (0) 1481 750822

15 March 2019


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
MSCMMGMFFKGGLZM

a d v e r t i s e m e n t