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Excelsior Capital Limited ( (AU:ECL) ) has shared an announcement.
Excelsior Capital Limited has reached an agreement with London City Equities Limited to withdraw its legal action in the Federal Court of Australia. As part of the agreement, Excelsior will undergo a company-managed liquidation process, which includes asset realization, liability payment, and a fully franked dividend distribution, culminating in its delisting from the ASX by June 2026. This resolution allows London City to save on legal expenses and focus on its investment portfolio, although the exact financial impact on London City remains uncertain.
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