Good Spirits Hospitality (GSH) has announced a further delay in obtaining a binding ruling from Inland Revenue, which means the proposed dividend will not take place this quarter as expected.
The company now expects to learn the outcome of the binding ruling during the second quarter.
GSH reiterated its intention to delist from the NZX main board after the payment of the dividend, subject to the satisfaction of certain conditions.
These conditions include obtaining the binding ruling from Inland Revenue and meeting the solvency test.
GSH also stated that, upon delisting, it intends to be liquidated or deregistered, along with its wholly owned subsidiaries.
The company's lender, PDL, has consented to the delisting and deregistration.
GSH will provide further updates on the progress.
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