Retail Holdings announces date of distribution of USD9.00 per share.
M2 EQUITYBITES-January 5, 2018-Retail Holdings announces date of distribution of USD9.00 per share
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Retail Holdings NV (OTC:RHDGF) (ReHo) issued on Thursday a further explanation about the payment date of distribution of USD9.00 per share, which is 10 January 2018.
This share distribution reflects about 42% of ReHo's closing stock price on 3 January 2018. As per NASDAQ rules, when a declared distribution amount exceeds 25% of a company's stock price, the date on which that company's shares will begin to trade without the distribution, or ex-distribution date, will be the first business day after the payment date.
Accordingly, since the distribution will exceed 25% of ReHo's share price, NASDAQ will apply the above rule and ReHo expects the ex-dividend date as set by NASDAQ to be 11 January 2018, the first business day after the distribution payment date. Further, shareholders of record on the record date, 4 January 2018 who sell their shares before the ex-distribution date 11 January 2018, will not receive this cash distribution.
A holding company, ReHo has one principal asset, a 54.1% equity interest in Sewko Holdings Limited, the parent company of Singer Asia Limited, a distributor of consumer durable products through public subsidiaries in Bangladesh and India and with a residual equity interest in a similar business in Sri Lanka. It has no other operating activities other than those carried out through Sewko or Singer Asia.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jan 5, 2018|
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