ThinkSmart (LON: TSL) is returning A$6.5m of cash to shareholders and that sparked a further upward move in the share price. Even so, the shares are not fully valued yet.
There will be a 4.575 cents a share capital reduction and a 1.525 cents a share unfranked dividend.
ThinkSmart had around £10m in the bank when the full year figures were announced. The current cash balance is similar to that level. Cash generated from running down the remaining financial operations should more than cover group overheads.
The current exchange rate is 55p for each A$1. The distribution is worth £3.6m,...
