Group revenue for the 12 months ended June came in at $94.2 million compared to $195.1 million in the prior year due mainly to a decrease in investment income from Knowledge Universe Holdings LLC (KUH), a holding company that has various interests in education-related ventures.
Following the divestment of the company’s entire ownership interests in Guggenheim, the company will have disposed of all or substantially all of its assets. Accordingly, the company will take steps to suspend the trading of its shares.
The company will also take steps to start voluntary liquidation after the company distributes all excess cash to its shareholders following the completion of the Guggenheim disposal, but will also consider other options which are consistent with the company’s stated objective of monetisation of investments and distribution of excess cash.
The board of directors is proposing a final dividend of 6.5 cents for the FY17 ended June. A tax exempt one-tier interim dividend of 2.0 cents per share was paid to shareholders on Dec 5 2016.
Shares in k1 Ventures closed at 73 cents on Tuesday.
