25.01.2022 22:30:00
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RETAIL HOLDINGS N.V. ANNOUNCES PLANS TO LIQUIDATION
WILLEMSTAD, Curaçao, Jan. 25, 2022 /PRNewswire/ -- Retail Holdings N.V. (Symbol: RHDGF), Retail Holdings N.V. (the "Company") announced today its schedule going forward to the ultimate liquidation of the Company.
With the completion of the sale at year-end 2021 of the shares of its indirect affiliate, Retail Holdings (India) BV, to third party investors, Retail Holdings N.V. no longer has any remaining operating assets. The Company now has only four intermediate, dormant holdings companies that it will be working to liquidate over the next 15 months. During this period, the Company will be seeking to collect and monetize its remaining financial assets, and to mitigate a number of contingent risks, including reducing the negative impact of the unclaimed distributions payable to certain foreign shareholders.
The Retail Holdings N.V. Board of Directors has elected to defer any further distributions to shareholders until the liquidation process is further advanced. A final liquidation distribution will probably be declared once this amount can be determined with certainty. At that time, shareholders will be asked to approve the terms of the Company's liquidation.
While it is difficult to accurately forecast, management estimates, based on the available facts, assumptions, and beliefs, that the ultimate final distribution to shareholders will probably be approximately $0.50 per Share. The likely timing of this distribution is in early 2023. Please note, no assurance can be given that management's estimate will prove to be correct, as to the amount or timing of this distribution, as a number of important risks and uncertainties to be resolved during the liquidation process can cause the ultimate outcome to materially differ from the estimate. Management believes it is unlikely that the liquidation distribution will be meaningfully greater than $0.50 per Share and in the worst case, the distribution may be significantly less or even nil.
Additional financial and other information about Retail Holdings N.V. may be found at the Corporate/Investor section of the Retail Holdings' website www.retailholdings.com. Price quotations for Retail Holdings shares are available on the "Pink Sheets" quotation service under symbol "RHDGF".
View original content:https://www.prnewswire.com/news-releases/retail-holdings-nv-announces-plans-to-liquidation-301468021.html
SOURCE Retail Holdings N.V.
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