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CULLINAN - PREFERENCE DIVIDEND

Release Date: 10/06/1998 16:58
Code(s): CUL CULP
Wrap Text
CULLINAN HOLDINGS LIMITED
(REGISTRATION NUMBER 01/01808/06)

SHAREHOLDERS IN CULLINAN HOLDINGS LIMITED WERE ADVISED ON 9 SEPTEMBER 1997 IN A CIRCULAR THAT UNTIL SUCH TIME AS DISTRIBUTABLE PROFITS IN THE COMPANY ARE GENERATED, NO DIVIDENDS CAN BE PAID. ALTHOUGH THE GROUP IS NOW PROFITABLE, THE COMPANY IS STILL NOT GENERATING PROFITS AND THE DIRECTORS HAVE THEREFORE RESOLVED THAT NO DIVIDENDS WILL BE PAID IN RESPECT OF THE 5, 5% CUMULATIVE PREFERENCE SHARES FOR THE PERIODS ENDED 3O JUNE 1997, 31 DECEMBER 1997 AND 30 JUNE 1998. IT IS ANTICIPATED THAT THE CUMULATIVE UNPAID DIVIDENDS WILL BE PAID WITHIN THE NEXT FINANCIAL YEAR. BY ORDER OF THE BOARD GERMISTON 10 JUNE 1998

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