Oxley’s shareholders should vote down distribution of Aspen shares 

MAINBOARD-LISTED property developer Oxley Holdings has proposed a distribution in specie to its shareholders of the shares it holds in Singapore mainboard-listed, Malaysia-based developer Aspen (Group) Holdings .

For every Oxley share held as at a yet-to-be-determined record date, Oxley shareholders will receive 0.023 of an Aspen share – or 23 Aspen shares for every 1,000 Oxley shares – if shareholders approve the distribution resolution at an extraordinary general meeting to be convened.

The value of the distribution is 0.65 per cent, based on Oxley’s share price of S$0.16 on Monday (Sep 26) and Aspen’s share price of S$0.045.