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FINDI LIMITED — Capital/Financing Update 2021
Mar 24, 2021
64934_rns_2021-03-24_02158145-dc70-4460-802a-41ff7b6bd3bf.pdf
Capital/Financing Update
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25 March 2021
ASX ANNOUNCEMENT
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ASX Waiver for Capital Reduction
Vortiv Limited (ASX: VOR) (the Company ) is pleased to advise that the ASX has granted the Company a waiver to listing rule 7.25 to the extent necessary to permit the Company to undertake the equal capital reduction set out in announcements to ASX on 11 and 18 March 2021.
As set out in the Notice of Meeting (section1.3 of the Explanatory Statement) released to ASX on 18 March 2021 to approve the return of capital to shareholders in the amount of 10 cents per share held on the record date, the waiver was required to enable the equal capital reduction to proceed given that following the capital reduction the Company’s shares will likely trade below 20 cents per share.
As announced to ASX on 18 March 2021, the board of the Company:
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declared a $7.8 million, fully franked dividend, equating to 5.55 cents per share; and
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determined to return an additional $14.05 million to shareholders via an equal capital reduction equating to 10 cents per share.
The equal capital reduction requires shareholder approval at a general meeting that has been convened for 9am AWST on 19 April 2021.
Shareholders are encouraged to update their banking and other details with the Company’s registry at www.advancedshare.com.au/investor-login .
Timetable
The timetable for the dividend and indicative timetable for the equal capital reduction (which has not changed from that announced on 11 March 2021) is as follows:
| Action | Date |
|---|---|
| Dividend Ex-Date | 16 March 2021 |
| Dividend Record Date | 17 March 2021 |
| Date for Dividend Payment | 9 April 2021 |
| General Meeting to approve Equal Capital Reduction | 19 April 2021 |
| Effective Date for Return of Capital | 20 April 2021 |
| Last day for trading “cum return of capital” | 21 April 2021 |
| Trading on an “ex return of capital” basis commences | 22 April 2021 |
| Capital Reduction Record Date | 23 April 2021 |
| Capital Reduction Payment Date | 30 April 2021 |
Authorised for release by Howard Digby Executive Chairman E: [email protected]
Share Registry Details: Advanced Share Registry Limited 110 Stirling Highway Nedlands WA 6009 Telephone: 1300 113 258 International: +61 8 9389 8033 Facsimile: +61 8 6370 4203 Online: www.advancedshare.com.au/investor-login
Units 8-9, 88 Forrest Street, Cottesloe, Western Australia 6011 Australia T +61 8 6444 1798 www.vortiv.com ABN 98 057 335 672