SHC Capital

SHC Capital: ($0.335) Going ex special dividend tomorrow, leaving cash shell behind SHC Capital recently disposed its insurance business SHC Insurance to German insurance giant ERGO International, for $112.9m. From the sale proceeds, SHC will be distributing $36.7m or a special dividend of $0.12/share, after accounting for fees and demand guarantee in relation to the disposal. The counter will go ex tomorrow. Post-payment, SHC will be left with a cash pile of $52m ($0.17/share) and will not have any significant business activities. Management has indicated that the group will actively seek new businesses to acquire. At the current share price of $0.335, the counter trades at a 5¢ premium to its cash value.