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Euroz Hartleys Group Limited (ASX:EZL)

ALERT: Price-sensitive ASX Announcement for EZL
Current share price for EZL : $1.425 0.55 (62.86%)+
Announcement
Release
13 Jun 2025 9:19AM
Price at Release
$0.875
Full Release
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Summary
Euroz Hartleys Group Limited (EZL) has announced a proposed capital return of $80 million to its shareholders. The capital return will be conducted at $0.26 per share, subject to shareholder approval at a General Meeting scheduled for 24 July 2024. The company has sufficient cash reserves for the return and the Board believes this initiative is in the best interests of shareholders. The document details the rationale for the return, including the company's strong financial position post recent divestments and ongoing profitability. It outlines the proposed timetable, tax implications for shareholders, and the process for the General Meeting. The notice provides background on EZL's business, the effects of the return on its capital structure, and includes an Independent Expert's Report concluding the proposal is fair and reasonable for shareholders.
Key Points
  • Euroz Hartleys Group Limited proposes a capital return of $80 million to shareholders.
  • The capital return is set at $0.26 per share.
  • Shareholder approval will be sought at a General Meeting on 24 July 2024.
  • The company has adequate cash reserves to fund the capital return.
  • The Board considers the capital return in the best interests of shareholders.
  • Strong financial position follows business divestments and continued profitability.
  • Detailed timetable and tax implications for shareholders are provided.
  • Notice includes process for the General Meeting and voting procedures.
  • Background information on EZL's business and post-return capital structure is included.
  • Independent Expert’s Report concludes the proposal is fair and reasonable to shareholders.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.