Thorn Group Limited (ASX: TGA) has recently announced its agreement with Resimac Group Limited for the sale of Thorn's Asset Finance Portfolio. This strategic move aligns with Thorn's core business strategy of being a diversified financial services organization focused on small businesses, ultimately delivering value to shareholders. The completion of the Asset Sale is subject to various conditions, including Thorn shareholder approval, anticipated to be sought at a General Meeting around 28 August 2023. The estimated cash proceeds from the Asset Sale are expected to be approximately AU$15 million. Following completion, Thorn aims to promptly distribute the cash proceeds to shareholders and will provide further details regarding the proposed distribution once finalized. The expected timeline for completion is towards the end of August 2023, with transitional services continuing for three months until 30 November 2023.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
