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

Monday 7th November 2011

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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.

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