RETAIL HOLDINGS N.V. ANNOUNCES PLANS TO LIQUIDATION

Rhea-AI Summary

Retail Holdings N.V. (Symbol: RHDGF) announced its plan for liquidation following the sale of its affiliate, Retail Holdings (India) BV, at the end of 2021. The company currently holds four dormant entities and aims to liquidate them within 15 months. During this time, it will work to monetize remaining financial assets and address contingent risks related to unclaimed distributions for foreign shareholders. The Board has deferred further distributions until the liquidation progresses, estimating a final distribution of approximately $0.50 per share, likely in early 2023, though risks may impact this estimate.

Positive

• Plan for liquidation indicates company is addressing its remaining assets and liabilities.
• Estimated final distribution of approximately $0.50 per share may provide some return to shareholders.

Negative

• No remaining operating assets post-sale of Retail Holdings (India) BV.
• Final liquidation distribution is uncertain and could be significantly less than estimated or nil.
• Management has deferred distributions to shareholders until further progress in liquidation is made.

WILLEMSTAD, Curaçao, Jan. 25, 2022 /PRNewswire/ -- Retail Holdings N.V. (Symbol: RHDGF), Retail Holdings N.V. (the "Company") announced today its schedule going forward to the ultimate liquidation of the Company.

With the completion of the sale at year-end 2021 of the shares of its indirect affiliate, Retail Holdings (India) BV, to third party investors, Retail Holdings N.V. no longer has any remaining operating assets. The Company now has only four intermediate, dormant holdings companies that it will be working to liquidate over the next 15 months. During this period, the Company will be seeking to collect and monetize its remaining financial assets, and to mitigate a number of contingent risks, including reducing the negative impact of the unclaimed distributions payable to certain foreign shareholders.

The Retail Holdings N.V. Board of Directors has elected to defer any further distributions to shareholders until the liquidation process is further advanced. A final liquidation distribution will probably be declared once this amount can be determined with certainty. At that time, shareholders will be asked to approve the terms of the Company's liquidation.

While it is difficult to accurately forecast, management estimates, based on the available facts, assumptions, and beliefs, that the ultimate final distribution to shareholders will probably be approximately $0.50 per Share. The likely timing of this distribution is in early 2023. Please note, no assurance can be given that management's estimate will prove to be correct, as to the amount or timing of this distribution, as a number of important risks and uncertainties to be resolved during the liquidation process can cause the ultimate outcome to materially differ from the estimate. Management believes it is unlikely that the liquidation distribution will be meaningfully greater than $0.50 per Share and in the worst case, the distribution may be significantly less or even nil.

Additional financial and other information about Retail Holdings N.V. may be found at the Corporate/Investor section of the Retail Holdings' website www.retailholdings.com. Price quotations for Retail Holdings shares are available on the "Pink Sheets" quotation service under symbol "RHDGF".

View original content:https://www.prnewswire.com/news-releases/retail-holdings-nv-announces-plans-to-liquidation-301468021.html

SOURCE Retail Holdings N.V.

FAQ

What is Retail Holdings N.V.'s plan for liquidation?

Retail Holdings N.V. plans to liquidate its remaining assets over the next 15 months after selling its affiliate in 2021.

When can shareholders expect a distribution from Retail Holdings N.V.?

Shareholders may expect a final distribution of approximately $0.50 per share in early 2023, but this is subject to risks and uncertainties.

What impact does the liquidation plan have on RHDGF shareholders?

The liquidation plan means shareholders may receive a distribution, but the amount and timing are uncertain and could be less than expected.

What are the risks involved in Retail Holdings N.V.'s liquidation process?

Risks include potential reductions in the estimated distribution amount or a situation where no distribution occurs at all.