Ann: Notice of General Meeting, page-4

First 4 Last

Share
Profile

Follow
Callthecops

26 Posts.

19

14/09/23

15:13

Post #: 69859776
Share

Originally posted by Virgil73: ↑

$5 million in 2 payments:
Shareholder Returns
Q2 quarter focussed its operations on debt reduction and maintaining production. Minimal capital spend was incurred
and overall net debt was reduced to its lowest point at $6m, an overall reduction of $7.8m for the quarter. Net debt of
$6m includes A$3.76m Pivotal term loan associated with the pipeline expansion that has provided considerable cost
savings in a rising cost environment over the last 18 months.
The Board is pleased to inform Shareholders a total capital return of A$5 million for the year 2023 has been approved.
This reflects an approximate 10% yield and demonstrates our commitment to delivering strong returns to shareholders.
The returns will be completed over two payments, with the first payment of $3 million expected to occur in September
2023 and the second $2 million payment in January 2024. We understand the importance of timely and consistent
returns to our shareholders, and we are committed to maintaining this standard of excellence. The return has been
delayed in order for the Company to complete its less than a marketable parcel sale process. Tax advise has confirmed
that the return can be completed as a capital return.

Expand

thanks virgil.
so pre montney sale mgt signalled $5m capital return and post Montney $10m?

CE1 Price at posting: 8.3¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

BGL

Bellevue aims for 45% production increase by FY 2028, announces $150M placement

HXL

Hexima shares rise 66% on proposed acquisition of AI player Real Thing Entertainment

PEC

Perpetual sniffs TREOs beyond 4000ppm at Raptor play in Brazil

Quarterly and half yearly reports: Ampol, Fortescue and Newmont.

Acquisitions roundup: European Lithium, Diatreme Resources and SRJ Technologies