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Wellard Ltd.
WLD.AU
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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.

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Wellard Ltd. Achieves Operational Improvements Despite Net Loss

Wellard Ltd. reported a net loss of $2.3 million for the half-year ended December 2024, mainly due to one-off costs from acquiring full ownership of the M/V Ocean Drover. Despite a 21.5% revenue decline, the company achieved operational improvements, including a higher gross profit margin and strong cash position. The sale of the M/V Ocean Drover for $50 million is a significant operational shift, pending shareholder approval, aimed at future financial gains. Wellard operates in livestock shipping, focusing on animal welfare and safety.

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