Brief: Pental Announces Divestment Of Consumer Products Business

Prestal Holdings

13/09/2023 11:15

Sept 13 (Reuters) - Pental Ltd  PTL.AX :
    * DIVESTMENT OF PENTAL CONSUMER PRODUCTS BUSINESS
    * DIVESTMENT FOR A TOTAL SALE PRICE OF A$60M (EXCLUDING
DEBTORS
AND CREDITORS) ON A DEBT AND CASH FREE BASIS
    * DIVESTMENT OF PENTAL CONSUMER PRODUCTS BUSINESS AND
SHEPPARTON
MANUFACTURING FACILITY
    * INTENDS TO RETURN APPROXIMATELY 31 AU CENTS PER SHARE BACK
TO
SHAREHOLDERS
    * FOLLOWING DIVESTMENTS, PENTAL IS EXPECTED TO HAVE A
HEALTHY
POSITIVE NET CASH POSITION
    * PROPOSED TRANSACTION EXPECTED TO COMPLETE ON OR AROUND 30
OCTOBER

Source text for Eikon:  ID:nASXbj5Tzc 
Further company coverage:  PTL.AX 

 ((Reuters.Briefs@thomsonreuters.com;))