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BAUXITE RESOURCES PTY LTD
BAUXITE RESOURCES LIMITED
PROPOSED CAPITAL RETURN OF A$0.05 PER SHARE
Bauxite Resources Limited ('BRL') is pleased to announce that the Board has resolved to approve a 5 cent per share capital return, subject to shareholders approval.
Following the successful conclusion of the sale of BRL's interest in the BAJV to its Chinese joint venture partner Yankuang, BRL holds surplus cash to its expected future funding requirements, and the return of capital will, if approved by shareholders, be made prior to the end of the financial year.
The current cash reserves of the Company are in excess of $27.3m, and the proposed capital return of 5 cents per share will result in approximately
$10.7m being returned to shareholders, leaving the Company with $16.6m cash retained, no debt and other substantial assets.
The Company has considered a number of proposed investment opportunities and continues to do so. It will continue to review undertaking further capital management initiatives in the future.
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DATE: 29 April 2016
ASX Code: BAU
BAUXITE RESOURCES LTD ABN: 72 119 699 982
DIRECTORS:
Robert Nash
Non Executive Chairman
Luke Atkins
Non Executive Director
Neil Lithgow
Non Executive Director
Zhaozhong Wang
Non Executive Director
Sam Middlemas
Chief Executive Officer and Company Secretary
Head Office:
Suite 10, 295 Rokeby Road
Subiaco WA 6008
Mail:
Suite 10, 295 Rokeby Road
Subiaco WA 6008
T: +61 8 9200 8200
F: +61 8 9200 8299
E: [email protected] W: www.bauxiteresources.com.au
Share Registry:
Security Transfer Registrars PO Box 535
Applecross WA 6953
T: +61 8 9315 2333
F: +61 8 9315 2233
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For further company details please visit www.bauxiteresources.com.au or contact:
Bauxite Resources Ltd Sam Middlemas, CEO Tel: (08) 9200 8200
Mb: 0419 936 040
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Bauxite Resources Ltd.
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CODE : BAU.AX |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Bauxite Resources is a development stage company based in Australia. Bauxite Resources holds various exploration projects in Australia. Its main exploration properties are MUCHEA BAUXITE, KIMBERLEY BAUXITE and DARLING RANGE BAUXITE in Australia. Bauxite Resources is listed in Australia. Its market capitalisation is AU$ 8.6 millions as of today (US$ 5.8 millions, € 5.3 millions). Its stock quote reached its highest recent level on October 29, 2010 at AU$ 0.39, and its lowest recent point on October 11, 2019 at AU$ 0.04. Bauxite Resources has 214 420 000 shares outstanding. |