Kirkcaldie estimates residual value of $3.18-$3.67/share after distribution, share cancellation

Mon, 22 Feb 2016

By Jonathan Underhill Feb. 23 (BusinessDesk) - Kirkcaldie & Stains, the cashed-up former department store operator, says its residual value is expected to be $3.18-to-3.67 a share once it has completed a court-approved return of capital to shareholders and cancelled four out of every five shares on issue. The company gave the estimate before its annual meeting today, held at the Wellington Club, and is based on estimated remaining net assets of $6.5 million to $7.5 million. Kirkcaldie this month gained High Court approval to return abo...

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