k1 Ventures to undertake proposed members' voluntary liquidation
INVESTMENT holding company k1 Ventures Limited (k1) announced on Friday that it intends to undertake a proposed members' voluntary liquidation of the company.
This comes after k1 completed the disposal of its entire interests in Chicago-based financial services and investment management holding company Guggenheim Capital for approximately US$221 million on Nov 17.
The company also placed its wholly owned subsidiary, FSHCO Holdings, under members' voluntary liquidation on Dec 27.
k1 will proceed with the voluntary liquidation once it gets approval from shareholders owning at least 75 per cent of all shares at an upcoming extraordinary general meeting.
Following the approval by the company's shareholders of the voluntary liquidation, k1 will be delisted from the Singapore Exchange (SGX) and the liquidators will proceed with the dissolution, the company said in a filing with the SGX after the market closed.
k1 had declared an interim dividend of S$0.3585 per share for the financial year ended June 30, 2018, which will be paid on Jan 19.
The company had previously issued a final dividend of S$0.065 per share for the financial year ended June 30, 2017 on Nov 8, and a cash distribution of S$0.3035 per share on Dec 22 from a capital reduction exercise carried out by the company.
k1 shares have been suspended on the SGX since Nov 20, 2017 and last traded 0.66 per cent or S$0.01 higher to S$0.76 apiece on Nov 17.
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