26th Nov 2019 18:39
(Alliance News) - Chenavari Capital Solutions Ltd said Tuesday it will redeemed 6.8 million shares, at a price of 85.68 pence per share, on December 9.
Chenavari Capital Solutions closed flat in London on Tuesday at 72.50p each.
This is the company's ninth partial redemption since it began its winding down process in 2017, this time returning GBP5.8 million to shareholders.
Chenavari said a holder of 10,000 shares will have 1,677 shares redeemed, and receive GBP1,4367 in cash.
The redemption represents about 17% of the company's issued share capital. As of Tuesday, Chenavari has 40.4 million shares in issue.
In December 2016, Chenavari announced its intention to wind down and return funds to shareholders after it extended its investment period for a further year in 2016.
Since the start of 2017, Chenavari has now stopped making further investments and will start realising its investments and returning money to shareholders.
By Paul McGowan; [email protected]
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