Wellard Ltd. (AU:WLD) has released an update.
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Wellard Limited has announced the sale of its M/V Ocean Ute vessel for US$12 million, with plans to return the majority of the net proceeds to shareholders. The deal with Bassem Dabbah Shipping Inc. is expected to close in September 2024, enhancing Wellard’s cash position by an estimated US$11.8 million. The company also reports strong demand for another of its ships, the M/V Ocean Drover, and is working to resolve legal matters to secure its full title.
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