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London City Equities Ltd ( (AU:LCE) ) has shared an announcement.
London City Equities Limited has reached an agreement with Excelsior Capital Limited to withdraw its legal action in the Federal Court of Australia. This decision aligns with London City’s initial goal of achieving a favorable outcome for shareholders, as Excelsior will now proceed with a company-managed liquidation process. This process includes asset realization, liability payment, and a fully franked dividend payout, culminating in Excelsior’s delisting from the ASX by June 2026. The agreement allows London City to save on legal expenses and focus on its investment portfolio, although the exact financial impact on London City remains uncertain.
More about London City Equities Ltd
Average Trading Volume: 2,928
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$26.61M
See more insights into LCE stock on TipRanks’ Stock Analysis page.