Global Testing Corporation Announces Massive Cash Payout to Shareholders
Key Highlights:
- Global Testing Corporation Limited (the “Company”) proposes a capital reduction and cash distribution of S\$0.025 per share [[1]]
- The record date for determining shareholders’ entitlement to the cash distribution is set at 30 May 2025 [[1]]
- Payment of the cash distribution is subject to certain conditions, including no creditors applying to court to cancel the special resolution and the Company completing necessary filings with ACRA [[1]]
- The expected payment date for the cash distribution is on or about 30 June 2025 [[2]]
Detailed Article:
Global Testing Corporation Limited, a company incorporated in Singapore, has announced a proposed capital reduction and cash distribution that could significantly impact its shareholders. The company will be closing its share transfer books and register of members on 30 May 2025, the record date, to determine the entitlements of shareholders to the proposed cash distribution.
Shareholders whose securities accounts with the Central Depository (CDP) are credited with shares as of 5.00 p.m. on the record date will be entitled to receive S$0.025 per share held. This means that shareholders who own the company’s shares on the record date will be eligible to receive the cash payout.
The payment of the proposed cash distribution is subject to a few key conditions. Firstly, no creditors must have applied to the court to cancel the special resolution passed by shareholders approving the capital reduction and cash distribution. Secondly, the company must complete the necessary filings with the Accounting and Corporate Regulatory Authority (ACRA) as required under the Companies Act, within the prescribed timeline.
Assuming these conditions are met, the company expects to make the cash distribution payment on or about 30 June 2025. Shareholders holding physical share certificates will have the payment cheques sent to them by ordinary post, while those with shares held in CDP accounts will have the payment credited to their respective accounts.
This announcement of a substantial cash payout to shareholders is likely to be well-received by the market and could potentially have a positive impact on the company’s share price. Investors should closely monitor the progress of the capital reduction and cash distribution process and consider the implications for their investment decisions.
Disclaimer:
This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research and due diligence before making any investment decisions. The author and the publication are not responsible for any investment decisions made based on the information provided in this article.
