Apr 24, 2020 / 01:00AM GMT
Victor Previn - Ellex Medical Lasers Limited - Founder & Executive Chairman
Welcome. Good morning and welcome to Ellex' Extraordinary General Meeting. It is now 10:00 a.m. My name is Victor Previn, Executive Chairman of Ellex and Chairman of today's meeting.
Today represents an important milestone in the evolution of your company with Ellex shareholders to vote on the sale of the Ellex Laser & Ultrasound business (sic) [Lasers & Ultrasound business] to Lumibird Group SA, known as Lumibird, at today's EGM. The sale of the Ellex Lasers & Ultrasound business has been structured by way of a sale of 100% of the shares of Adele Ellex SPV, Special Purchase Vehicle, Pty Ltd, a wholly owned subsidiary of the company, for a cash consideration of AUD 100 million.
The Ellex Board proposes to distribute approximately $61 million of the proceeds of the sale of the Ellex Lasers & Ultrasound business to shareholders by way of a payment of fully franked dividend at a capital reduction through an equal capital reduction, which is also subject to shareholders' approval at today's EGM.
Ellex Medical Lasers Ltd Extraordinary Shareholders Meeting Transcript
Apr 24, 2020
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