A very frank AGM Last week, retailer Harvey Norman (ASX: HVN) announced at its AGM a 1 for 22 renounceable rights issue to raise $121 million at $2.50 per...
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A very frank AGM Last week, retailer Harvey Norman (ASX: HVN) announced at its AGM a 1 for 22 renounceable rights issue to raise $121 million at $2.50 per share versus the last sale price of $3.69 as of Friday's close. The proceeds of this equity raising will be used to facilitate the payment of a 14 cents fully franked special dividend to shareholders. This is the first time that we have seen a company do this since Flight Centre announced a rights issue in 2001 to help pay a special dividend of 60 cents per share. We are encouraged by Harvey Norman's Board's endeavour to release the value of its $659 million franking balance of which this represents a very small portion.
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Wilson Asset Management has a track record of making a difference for shareholders and the community for 27 years and is the investment manager for nine LICs and two unlisted funds. Wilson Asset Management invests over $6 billion on behalf of more than 130,000 retail investors. Wilson Asset Management created and is the lead supporter of the Future Generation companies, the first LICs to deliver both investment and social returns.
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 27 years and is the investment manager for nine LICs and two unlisted funds. Wilson Asset Management invests over $6 billion on behalf of more...
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 27 years and is the investment manager for nine LICs and two unlisted funds. Wilson Asset Management invests over $6 billion on behalf of more...
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