RETAIL HOLDINGS N.V. NOTICE OF A SHAREHOLDERS' MEETING TO PLACE THE COMPANY INTO VOLUNTARY LIQUIDATION
On February 27, 2023, Retail Holdings N.V. (RHDGF) announced a shareholders' meeting scheduled for March 31, 2023, to vote on a voluntary liquidation proposal. If approved, this would conclude a liquidation strategy initiated in 2015. Shareholders will receive a proxy statement and are urged to review it before voting. The liquidation, assuming acceptance, will allow a liquidator to manage the company’s assets and settle outstanding unclaimed distributions. To date, shareholders have received total distributions amounting to $38.86 per share. The company's 2022 financial statements and details on contingent liabilities are available on their website.
- Total distributions to shareholders amount to $38.86 per share since 2015.
- The liquidation process is a strategic conclusion aimed at maximizing asset value.
- The proposal indicates the company is undergoing liquidation, which may reflect operational struggles.
- Shareholders may not see additional distributions until unclaimed requests are settled.
If the Liquidation Proposal is accepted by a majority of Shareholders attending the Meeting on
Shareholders are encouraged to carefully review the Proxy Statement and vote their shares. The Company's Board of Directors unanimously recommends that Shareholders vote to adopt the Liquidation Proposal.
For additional information about the Company, the Company's summary financial statements as at
Assuming that the Liquidation Proposal is accepted, the Liquidator will assume control of all of the assets of the Company in liquidation as at
- To make a renewed effort to contact non-US shareholders with unclaimed
distributions. - To pay from the cash balance of the Company any valid requests from such shareholders for unclaimed distributions.
- To not make any other distributions to shareholders at this time.
- To, at the liquidator's discretion, at the time and in the amount, if any, determined by the liquidator, pay from the cash balance of the Company to the Company's current shareholders (with a record date of
March 31, 2023 ), the amount, if any, that the liquidator believes is in excess of projected requirements to pay future, valid requests for unclaimed distributions and is
in excess of projected other cash requirements, including for the liquidator's ongoing expenses to ultimate wind-up.
The Liquidator will complete the liquidation and dissolve the Company when all of the requirements for liquidation pursuant to
Chairman's Comments
Commenting on the proposed voluntary liquidation,
"I wish to sincerely thank our shareholders, fellow directors, employees and other stakeholders for their support of me and the Company over the 23 years period since the emergence of the Company from a Chapter 11 bankruptcy proceeding in
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