Brief: Santa Fe Updates On Continuing Activities, Expected Cash Flow

Det Oestasiatiske Kompagni A/S

06/11/2019 13:40

Nov 6 (Reuters) - Santa Fe Group A/S  SFGR.CO :
    * REG-INFORMATION ON ACTIVITIES IN THE CONTINUING SANTA FE
GROUP
A/S (FORTHCOMING EAC INVEST A/S) AND EXPECTED CASH FLOW -
COMPANY ANNOUNCEMENT NO 19/2019
    * COMPANY'S ASSETS WILL, SUBSEQUENT TO CURRENT
RESTRUCTURING,
CONSTITUTE MINORITY HOLDINGS IN 3 ASIAN COMPANIES, ALL OF WHICH
HAVE A LONG HISTORY WITHIN COMPANY
    * ONE OF MINORITY HOLDINGS WILL SUBSEQUENT TO RESTRUCTURING
BE
DIRECTLY OWNED BY EAC INVEST A/S AND TWO REMAINING MINORITY
HOLDINGS WILL BE OWNED VIA WHOLLY-OWNED SUBSIDIARIES
    * INVESTMENTS ARE NOT IMMEDIATELY LIQUID, BUT OPPORTUNITIES
FOR
DIVESTMENT ARE BEING INVESTIGATED. FURTHERMORE
    * SANTA FE GROUP - GOING FORWARD, CO'S REVENUE CONSISTS
SOLELY OF
DIVIDENDS FROM INVESTMENTS, DIVIDENDS ARE BUDGETED TO BE AROUND
DKK 1M ANNUALLY
    * SANTA FE GROUP - EXPECTS TO OPERATE WITH FREE CASH FLOW OF
ABOUT
DKK -1M ANNUALLY, ASSUMING DIVIDEND FLOW CONTINUES AT SAME LEVEL
AND EXCLUDING OUTCOME OF TAX CASES

Source text for Eikon:  ID:nGNE4LhlSx 
Further company coverage:  SFGR.CO 

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