SHL Holdings Ltd. Announces Sale of Equity Investment and Subsequent Distribution

Rhea-AI Summary

SHL Holdings Ltd. announced it has successfully monetized its equity interest in Crown Global, matching its carrying value from recent liquidation basis financial statements. The company will distribute about $2.6 million, or $0.03 per share, to shareholders of record as of November 1, 2021, with payments scheduled for November 15, 2021. This development reflects the company's efforts to return value to its shareholders.

Positive

• Successful monetization of equity interest in Crown Global.
• Distribution of $2.6 million to shareholders, enhancing shareholder value.

Negative

• Forward-looking statements carry risks and uncertainties that may affect future performance.

HAMILTON, Bermuda, Oct. 13, 2021 (GLOBE NEWSWIRE) -- SHL Holdings Ltd. (“Company”) announced that it has successfully monetized its equity interest in Crown Global at an amount approximating its carrying value on the Company’s most recent liquidation basis financial statements. In addition, the Company also announced that a distribution of approximately $2.6 million or $0.03 per share, including the net proceeds, will be made to shareholders of record as of November 1, 2021. The distribution will be made on November 15, 2021.

About SHL Holdings Ltd.

SHL Holdings Ltd. (OTC: SYCRF) is a Bermuda-domiciled holding company. For additional information, please visit www.shlholdings.com.

Important Information

This press release contains statements about future results, plans and events that may constitute "forward-looking" statements within the meaning of the U.S. federal securities laws.  The Company cautions you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release.  In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology.  Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control. These risks and uncertainties include, but are not limited to, the factors described in the Company's liquidation basis financial statements posted on its website at www.shlholdings.com.  Readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect the effect of circumstances or events that arise after the date the forward-looking statements are made.

Contacts
Scott Beinhacker
SHL Holdings Ltd.
(212) 478-3699
sbeinhacker@shlholdings.com 

FAQ

What is the recent announcement by SHL Holdings Ltd. regarding Crown Global?

SHL Holdings Ltd. announced the successful monetization of its equity interest in Crown Global, aligning with its carrying value.

When will SHL Holdings Ltd. distribute the $2.6 million to shareholders?

The distribution of approximately $2.6 million will be made on November 15, 2021.

What is the amount per share that SHL Holdings Ltd. will distribute?

SHL Holdings Ltd. will distribute approximately $0.03 per share to its shareholders.

Who is entitled to receive the distribution from SHL Holdings Ltd.?

Shareholders of record as of November 1, 2021, are entitled to receive the distribution.

What are the risks associated with the forward-looking statements in SHL Holdings Ltd.'s press release?

The forward-looking statements may differ materially from actual events due to various risks and uncertainties.