SHL Holdings Ltd. Announces Sale of its Real Estate Related Assets in Detroit, Michigan and Subsequent Distribution

Rhea-AI Summary

SHL Holdings Ltd. has successfully monetized its interests in properties in Detroit, Michigan, resulting in value above its carrying amount. The company will distribute approximately $13.9 million, equating to $0.16 per share, to shareholders recorded by February 25, 2022, with payments expected around March 15, 2022.

Positive

• Monetized real property interests in Detroit above carrying value.
• Distribution of approximately $13.9 million or $0.16 per share to shareholders.

Negative

• None.

HAMILTON, Bermuda, Feb. 11, 2022 (GLOBE NEWSWIRE) -- SHL Holdings Ltd. (“Company”) announced that it has successfully monetized its interests in real property and an option on real property in Detroit, Michigan, and a certificate that can be presented to the City of Detroit for value when purchasing certain city-owned property in Detroit, Michigan at an amount in excess of its carrying value on the Company’s most recent liquidation basis financial statements. In addition, the Company also announced that a distribution of approximately $13.9 million or $0.16 per share, including the net proceeds, will be made to shareholders of record as of February 25, 2022. The distribution will be made on or about March 15, 2022.

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
investorrelations@shlholdings.com

FAQ

What is the amount of the distribution announced by SHL Holdings Ltd.?

SHL Holdings Ltd. announced a distribution of approximately $13.9 million, or $0.16 per share.

When will SHL Holdings Ltd. distribute the announced funds?

The distribution will be made on or about March 15, 2022.

Who is eligible for the distribution from SHL Holdings Ltd.?

Shareholders of record as of February 25, 2022, are eligible for the distribution.

What properties did SHL Holdings Ltd. monetize?

SHL Holdings Ltd. monetized interests in real property located in Detroit, Michigan.

What is the ticker symbol for SHL Holdings Ltd.?

The ticker symbol for SHL Holdings Ltd. is SYCRF.