Ann: Notice of General Meeting, page-4

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Callthecops

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14/09/23

15:13

Post #: 69859776
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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.

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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
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Ann: Notice of General Meeting, page-4

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