Further to the appointment of Sean Croston and Richard White of Grant Thornton UK LLP as Joint Liquidators of Williams Grand Prix Holdings PLC on 27 October 2020, the Joint Liquidators announce their intention to make an initial liquidation distribution to shareholders.
The initial liquidation distribution to shareholders will be made at the rate of €11.05 per ordinary share of £0.05 each on the capital of the Company held. All distributions will be paid on 2 December 2020 (or as soon as practicable thereafter) to shareholders on the register of members as at the record date of 6.00 p.m. on 26 November 2020.
The initial distribution accounts for approximately 99 per cent. of the net proceeds received by the Company, after costs, following the sale in August 2020 of Williams Grand Prix Engineering Limited, the Company’s operating subsidiary, to BCE Limited, a fund managed by Dorilton Capital Management LLC.
The Joint Liquidators do not anticipate being in a position to make any further distributions to shareholders until shortly before the liquidation of Williams Grand Prix Holdings is completed, prior to the Company being subsequently dissolved. The value of any subsequent distribution per share cannot be estimated at this time.
