The balance of $217 million, representing the difference between the gross Transaction proceeds of $900 million and the use of proceeds detailed above, has been included as part of cash and cash equivalents for the purposes of the unaudited pro-forma consolidated balance sheet.
Any decision regarding application of the proceeds will be made after a full consideration of Sigma?s forecast financial requirements including working capital, capital expenditure and litigation expenses (including the Shareholder Class Action commenced on 29 October 2010). It is possible that the applicants in the Shareholder Class Action will seek to prevent, or limit Sigma?s ability to pay, a special dividend.
Sound like the board is prepare might not to pay the dividend.
SIP Price at posting:
39.0¢ Sentiment: None Disclosure: Held