Wellard Ltd Approves Sale of MV Ocean Drover and Capital Return
Wellard Ltd. has received shareholder approval for the sale of the MV Ocean Drover for US$50 million. The proceeds will be returned to shareholders at 15 cents per share, with the sale expected in late July and capital return around August 28, 2025. This move aims to optimize Wellard's asset portfolio and benefit shareholders directly. Wellard operates in livestock transportation, focusing on the export of live animals.
The latest update is out from Wellard Ltd. ( (AU:WLD) ).
Wellard Ltd has announced that its shareholders have approved the sale of the MV Ocean Drover, a livestock vessel, for US$50 million. The proceeds from this sale will be returned to shareholders at a rate of 15 cents per share. The sale is anticipated to occur in the last week of July, with the capital return expected around August 28, 2025. This decision reflects Wellard’s strategic move to optimize its asset portfolio and provide direct financial benefits to its shareholders.
More about Wellard Ltd.
Wellard Ltd operates in the livestock transportation industry, focusing on the export of live animals. The company is known for its fleet of specialized vessels designed for the safe and efficient transport of livestock across international waters.
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Current Market Cap: €51.39M
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