Saturday, 30 March 2024

Announcement

MKTUPDTE: TEN: Tenon Provides Update

05 Jul 2017 08:30NZX
TENON PROVIDES UPDATE
Released 5  July  2017
Tenon announced today that it had finalised the net working capital
adjustments required under the sale agreements relating to the sale of the
Company''s North American business to Blue Wolf Capital and the sale of the
Company''s Clearwood business to Tenon Clearwood Limited Partnership, and was
progressing the wind-down steps required in order to get the Company ready
for delisting from the NZX Main Board on Monday, 31 July 2017 and for the
appointment in late October 2017 of liquidators in relation to the voluntary
liquidation of the Company.
Tenon''s shares will trade until the close of trading on the NZX Main Board on
Thursday, 27 July 2017, when trading will be suspended to allow settlement of
all trades prior to delisting. Following the suspension of share trading,
shareholders will no longer be able to trade their shares in Tenon on the NZX
Main Board. Tenon will be delisted from the NZX Main Board on the close of
trading on the NZX Main Board on Monday, 31 July 2017.
Tenon has previously stated that it expects surplus cash to be available for
distribution to shareholders upon completion of the Company''s liquidation.
Although subject to uncertainty, based on information available today, Tenon
believes that the cash surplus upon completion of the liquidation will be
around US$4.7 million.
Ends
End CA:00303589 For:TEN    Type:MKTUPDTE   Time:2017-07-05 08:30:11
Views: 705
Tenon Limited Ordinary Shares
 0.3550 Change:
0.00
0.00%
 
Open:0.3550 
High:0.3550 
Low:0.3550 
Volume:0 
Last Traded:28/07/17 09:00:00 
Bid:0.3550 
Ask:0.3850 
52-Wk High:2.7500 
52-Wk Low:0.3360