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- Aurora Russia sells Unistream, will wind up
Aurora Russia is selling its last investment, a minority interest in Unistream Commercial Bank. They expect to get total proceeds of $4.975m in cash and believe the sale process will be completed by no later than 31 December 2015.
Following the disposal of Unistream, the Board intends to consider proposals to hand back the cash proceeds in a cost effective, tax efficient and timely manner. The Board currently intends to effect the distribution of cash by placing the Company into a members’ voluntary liquidation and estimates that approximately £4.5m would be available to fund an initial distribution to shareholders, from which the liquidators would be expected to hold back a modest liquidation reserve.
AURR : Aurora Russia sells Unistream, will wind up