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Imperial Pacific Limited (ASX:IPC)

ALERT: Price-sensitive ASX Announcement for IPC
Current share price for IPC : $2.000 0.25 (14.29%)+
Announcement
Release
18 Nov 2025 9:34AM
Price at Release
$1.750
Full Release
download
Summary
London City Equities Limited has reached an agreement with Excelsior Capital Limited to conclude ongoing litigation in the Federal Court of Australia. As part of the agreement, Excelsior will undertake a company-managed liquidation process to convert its assets into cash, pay off liabilities, distribute a fully franked dividend, return capital to shareholders pari passu, and delist from the ASX. This decision will save legal expenses and allow London City to focus on its investment portfolio. While the financial impact on London City cannot be precisely determined due to limited public information about Excelsior's finances, the expected increase in cash assets and franking credits is seen as beneficial.
Key Points
  • Agreement reached with Excelsior Capital Limited.
  • Conclusion of Federal Court litigation.
  • Excelsior to manage its own liquidation.
  • Assets to be converted to cash and liabilities paid.
  • Fully franked dividend and capital return planned.
  • Excelsior to be delisted from the ASX by June 30, 2026.
  • Significant legal cost savings for London City.
  • Financial impact on London City unclear but potentially beneficial.
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.