MY WORRY !!! As ARL MEMBERS WILL REMEMBER THIS LETTER.. The Manager Company Announcement Office NSX Level 2, 117 Scott Street Newcastle NSW 2300 Dear Sir/Madam Adjudication of Asset Resolution Ltd’s (“ARL”) claim against Octaviar Ltd (“OL”) Shareholders may recall that ARL had a claim of $206,119,371 against OL. The liquidators of OL have advised ARL that $205,694,371 of that claim has been allowed. The liquidators of OL have also advised ARL that we will be receiving a first dividend of approximately $1,465,900.00 later this week and a second dividend in January 2018. The amount of the second dividend is not yet known. References to the claim size are important only to the extent that they affect the proportion of any proceeds that ARL might receive from OL. The Directors believe that ARL will receive only a very small proportion of the amount claimed but are not in a position to quantify how much the company might receive or, indeed, when this might occur ARL currently has $7 million cash, $3.25 million mortgage loan asset at call and 4,064,008 shares on issue. ARL does not currently have a dividend policy. The funds are expected to be used for future investment or a Shareholder approved Off Market Buyback. For further information please contact ARL’s company secretary, Vicky Allinson on 08 8423 0170 or email [email protected]. ** Well if the SR GROUP were to receive any money from the Australian government would not that money paid to the PIF NOT to SR GROUP ******So then we can say it will go to ARL .
OCV
octaviar limited
