AF Global Limited Announces Significant Capital Reduction and Cash Distribution

AF Global Limited has announced a proposed capital reduction and cash distribution, a move that could potentially impact its share value. The board of directors has set a record date of 4 November 2024, at 5.00 p.m., for determining shareholders’ entitlements to the cash distribution.

Key Details for Shareholders

The proposed cash distribution is contingent upon two primary conditions: firstly, no creditors should apply to the court to cancel the special resolution passed at the extraordinary general meeting, and secondly, the company must complete necessary filings with the Accounting and Corporate Regulatory Authority between six to eight weeks following the resolution passed on 2 October 2024.

Important Dates and Payment Details

The expected payment date for the cash distribution to entitled shareholders is anticipated to be around 15 November 2024, following the effective date of the capital reduction. Shareholders holding scrip shares will receive cheques via ordinary post, while those with shares in their Securities Accounts will have payments credited directly to their bank accounts through CDP’s direct crediting service.

Action Required

Shareholders who wish to deposit their shares with CDP prior to the record date must ensure that their share certificates and instruments of transfer are submitted at least twelve market days before 4 November 2024.

The company will keep shareholders informed about the effective date of the capital reduction and the exact date of the cash distribution payment through future announcements.

This announcement is crucial for all shareholders as it involves financial decisions that may influence the company’s stock market performance in the near future.