RE:RE:30th August: Boardmeeting to approve half year results
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The board of directors (the “Board”) of Persistence Resources Group Ltd (the “Company”) hereby announces that a Board meeting will be held on Thursday, 28 March 2024 for the purpose of, among other matters, approving the annual results of the Company and its subsidiaries for the year ended 31 December 2023 and its publication, and considering the proposed profit distribution plan, if any.
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https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0313/2024031300387.pdf
As with so much else, it is not clear to me what dividend would mean in this situation. Is this a dividend to the
Paprent (MJS) of the comanpy in regards to the "profit distribution plan" (that sould exist)? Would this mean a
dividend to PRG shareholders? Would this mean if the dividend is payed out to MJS, it would mean a dividend
must be paid out to PRG shareholders?
I hope we will get clarity on this.
At the moment, my opinion is, that profits should be paid out based on the "profit distribution plan" and the "control agreement". (both should exist but are not public). If you have detailed knowlegde about this, would be happy to
have your insight. You can google both terms and find the basics there. This payout of profits should not mean a
dividend to PRG shareholders and MJS should get at least a profit share based on the owenership 70,5%
This is my opinion based on extensive research. But again, as too often with this company, "shoulds" mean nothing.
We need to see comprehensible proof..
hope that was helpful
best
Richard