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BRIEF-Contrarian Value Fund Updates On Sale And Distribution Proposal

Published 09/12/2020, 09:56 pm
Updated 09/12/2020, 10:00 pm
© Reuters.

Dec 9 (Reuters) - Contrarian Value Fund Ltd CVF.AX :

* UPDATE ON SALE AND DISTRIBUTION PROPOSAL

* IF SALE & DISTRIBUTION PROPOSAL APPROVED, CO ESTIMATES IT WILL DISTRIBUTE ABOUT $1.07 PER SHARE PRIOR TO 31 JAN 2021

* GLOBAL VALUE FUND IS ADVOCATING AGAINST THIS OUTCOME

* DIRECTORS VIEW THIS ACTIVISM AS ATTEMPT BY GVF TO SEIZE CONTROL OF CO WITHOUT OFFERING TAKEOVER PREMIUM

* DIRECTORS UNANIMOUSLY RECOMMEND SHAREHOLDERS TO VOTE FOR RESOLUTIONS 1 TO 6

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