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- Release Date: 09/05/14 11:32
- Summary: GENERAL: RNS: Renaissance Corporation Limited
- Price Sensitive: No
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RNS
09/05/2014 09:32
GENERAL
REL: 0932 HRS Renaissance Corporation Limited
GENERAL: RNS: Renaissance Corporation Limited
Renaissance Corporation Limited
(Company)
09 May 2014
Since the Annual General Meeting held on 11 April 2014, there has been no
change to the board's view that it is preferential for the Company and its
shareholders that the board continue tidying up the affairs of the Company
and then call a meeting of shareholders to appoint a liquidator.
To assist with that process, the Company will amalgamate with its wholly
owned subsidiaries. The shares in all of the Company's wholly owned
subsidiaries will be cancelled and the assets and liabilities of the
Renaissance group of companies will vest in Renaissance Corporation Limited
(as the amalgamated company) which can then be more easily managed.
It is proposed that the amalgamation will occur around mid-June. The
amalgamation will have no material practical impact upon the Renaissance
group of companies or their creditors but it will simplify any subsequent
liquidation process.
Two more entities have come forward exploring the back door listing
opportunity. Both entities have disengaged by mutual consent.
Donovan Smith
Chief Financial Officer
End CA:00250278 For:RNS Type:GENERAL Time:2014-05-09 09:32:19
