6th Sep 2018 18:23
LONDON (Alliance News) - Juridica Investments Ltd said Thursday that the benefits of winding-up the company are currently outweighing the costs of continuing its operations and therefore it is seeking to appoint liquidators.
The company said: "The board now believes that the costs to shareholders of continuing the Company in operation and maintaining an AIM listing are now outweighed by the benefits of winding-up, de-listing and liquidation."
"The chairman expects to write to shareholders shortly with details of an extraordinary general meeting with proposals to wind-up, de-list and appoint liquidators."
For the six months to June 30, the company's net asset value was USD0.0906, down from USD0.1563 at the end of December, after it paid dividends amounting to USD5.9 million.
Furthermore, in the six-month period the company's investments valuation decreased by USD384,000 and it recorded a loss of USD1.3 million compared to a USD526,146 profit a year ago.
Juridica shares closed marginally higher at 8.55 pence each.