News blog
Japan Leisure Hotels
- BY: Andrew Hore |
- POSTED: 06/01/2012 |
Shareholders in former Aim company Japan Leisure Hotels Ltd are set to receive a further 0.8p a share from its liquidator.
KPMG Channel Islands is still completing the liquidation but it estimates that there will be 0.8p a share left after costs.
JLH joined Aim on 16 January 2008 when it raised £3.05m at 50p a share - after expenses the figure was £1.9m. The Aim quotation was cancelled on 9 June 2011.
JLH received Yen1.42bn (£10.4m) before expenses for its hotel portfolio. There was a distribution of around 22p-23p a share out of theses proceeds.
Minority shareholders were unhappy with the sale of assets and the liquidation of the company but DKR Oasis, which owned 87.6% of JLH, was in favour of the disposal even though the price was lower than book value.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2011_27.pdf
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