SML shareholders approved a US$14 million dividend, Lucapa gets US$5.6 million

Lucapa Diamond Company Limited (ASX: LOM) reports that shareholders of Sociedade Mineira Do Lulo (“SML”) have sanctioned a US$14 million dividend, with Lucapa's share amounting to US$5.6 million (AU$8.5 million). An initial payment of US$4 million (AU$6.1 million) is expected in Q1/24, followed by the balance in H2/24.

Furthermore, approval has been granted for a US$4.5 million (AU$6.8 million) loan repayment, slated for H2/24, aimed at extinguishing the outstanding Lulo Alluvial development loan owed to Lucapa. The entire transaction involves both the dividend distribution and the loan repayment, and the financial inflows are anticipated in two stages during the course of 2024. This development reflects SML's commitment to shareholder value and financial obligations, positioning Lucapa to benefit from these significant financial transactions in the specified timeline.

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