Webcentral Ltd (AU:5GN) has released an update.
Webcentral Ltd has confidently agreed to the fair value sale of its 5GN business for $3.2 million, in line with its strategy to exit a loss-making segment, return capital to shareholders, and delist from the ASX. The company’s Independent Board Committee (IBC), after considering various options and conducting a limited market sounding with eight potential buyers, believes the sale and subsequent 15 cents per share capital return are in the best interest of its shareholders. Despite no further offers post-announcement, the company maintains the sale is aligned with its financial forecasts and will proceed with the return of capital once formal wind-up costs are accounted for.
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