Grindrod Shipping Holdings (GRIN) has released an update.
Grindrod Shipping Holdings Ltd. has announced the finalization of a Selective Capital Reduction process approved by the High Court of the Republic of Singapore, with a cash distribution of US$14.25 per share to be paid to participating shareholders. Trading of the company’s shares will be suspended on NASDAQ and JSE prior to the Effective Date of 16 August 2024, and shareholders will receive their cash distribution in USD or the ZAR equivalent. The company is set to delist from both NASDAQ and JSE by the end of August 2024.
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