Avance Gas Holding Ltd Announces Final Distribution of $0.74
Avance Gas Holding Ltd Announces Final Distribution of $0.74
Avance Gas Holding Ltd is making waves as it confirms its decision to deliver a final extraordinary distribution to its shareholders. This exciting update follows the company’s Fourth Quarter 2024 Earnings Release. The financial landscape has shifted positively for shareholders as Avance Gas has successfully managed to finalize the sale of assets, leading to this momentous occasion.
Details of the Extraordinary Distribution
The latest announcement reveals that the company will be distributing $0.74 per share, amounting to a remarkable total of $56.7 million. This distribution comprises a return of capital of $0.16 per share alongside a dividend of $0.58 per share. Such a significant return on investment showcases the company’s commitment to rewarding its shareholders during this winding-up phase. The anticipation surrounding this distribution reflects optimism in the market.
Successful Asset Sales
As highlighted in their previous presentations, Avance Gas has confirmed the completion of sales for all of its assets. This strategic move enables the company to return capital effectively to its shareholders. The extraordinary distribution announced represents the final payment, marking the end of a chapter for the company. The winding-up process is now set in motion, with the next significant step being a Special General Meeting where crucial decisions, including the appointment of a liquidator, will occur.
Upcoming Special General Meeting
Avance Gas plans to hold a Special General Meeting to address the liquidation and delisting of the company from the Oslo Stock Exchange. This meeting will be essential to determine the future steps for shareholders and finalize the process. Information regarding the last trading date of its shares will be provided, with projections suggesting this will happen in the early summer.
First Quarter Financial Report
The company has scheduled the release of its First Quarter 2025 Report for later this month. Due to the decreased level of activity, there will be no accompanying presentation or webcast for this report. However, shareholders can look forward to press releases which will detail outcomes from the Special General Meeting and updates regarding delisting timelines.
Contact Information for Shareholders
For any inquiries or additional details, stakeholders can reach out to Randi Navdal Bekkelund, CFO of Avance Gas. The company encourages communication through the designated email for IR inquiries or via telephone for immediate assistance.
Email: ir@avancegas.com
Tel: +47 23 11 40 00
Frequently Asked Questions
What is the amount of the extraordinary distribution?
The extraordinary distribution amounts to $0.74 per share, totaling $56.7 million.
What actions are planned following this distribution?
Avance Gas Holding Ltd will proceed with a Special General Meeting to appoint a liquidator and discuss delisting.
Is there a timeline for the last trading date of shares?
While specific dates are to be confirmed, it is anticipated that the last trading date will occur in June 2025.
Who should I contact for further inquiries?
For further information, you can contact Randi Navdal Bekkelund, CFO, via email or phone provided earlier.
Will there be a Q1 2025 earnings presentation?
There will not be a presentation or webcast for the First Quarter 2025 Report due to limited activity.
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