Basically all we wanted: Public listings, $33-$38,3 mln RoCCompany has $ 63 mln ($ 1,28 p/s) Working Capital, $ 50.3 mln cold hard cash ($ 1,02 p/s) of which still ~ $ 15 mln cash will be left in case of max capital return. $ 20 mln in case of a $ 33 mln RoC.
Doesn't look like any complicated components to the restructuring. Just a straight split into 2, publicly listed, companies:
- a spinoff of the international business to shareholders as a Canadian publicly listed company,
- maintaining the Corporation as a Canadian publicly listed company focused on growing the Canadian business,
- distribution of a return of capital to shareholders of between $33.0 million and $38.2 million before July 26, 2024, and
- the further right sizing of the general and administrative infrastructure to align with the new corporate structure.
So, we basicallly got all we wanted - now let's see if the share price reacts.
Happy hunting,
R.