OnCard International may launch distribution to shareholders

2015-01-26 09:50:06

(MENAFN- ProactiveInvestors)

OnCard International (ASX:ONC) has been granted an ASX trading halt in relation to a potential distribution to its shareholders.

The halt will last until the earlier of the announcement being made or the commencement of trade on Thursday 29th January 2015.

Last week it revealed its decision to exit its residual Chinese businesses Buffet Club and Enjoy Shanghai.

The divestment should be completed by June 2015.

The company has cash or cash equivalents totalling $57.2 million as at 31st December 2014.

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