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Westmount Energy Ltd

  • BY: Andrew Hore |
  • POSTED: 24/12/2010 |

Investment company Westmount Energy Ltd is returning 3.4m to shareholders.

The 45p a share distribution is planned to take place on 2 February assuming shareholders vote for the return of capital. Westmount has already returned 115p a share to its investors having joined AIM at an introduction price of 15p a share in 1995.

Westmount has investments in three quoted companies Desire Petroleum, Sterling Energy and Argos Resources plus 3.3m in cash. It expects to generate nearly 200,000 when share options are exercised. These share options have an exercise price of less than 45p a share.

At 99.5p a share, up 18p on the day, Westmount is valued at 6.95m. 

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