Elite KSB

Elite KSB - Elite KSB shares slump 64%, following an update on its intentions to distribute its remaining cash back to shareholders and thereafter undertake a voluntary liquidation. Based on the latest disclosures, the company has cash holdings of ~$11.4m. Shareholders are only able to receive the distribution of such cash, less the outstanding liabilities and fees associated with the Voluntary Winding Up and delisting exercise. Given the current share base of 135.5m, and assuming no further outstanding liabilities and expenses, shareholders may receive a return of capital of up to 8.4¢ per share. For now, investors may shy away from trading in Elite KSB, given the 11% premium of its market valuation over its realizable value