03 Apr ThinkSmart Capital Management Update
ThinkSmart Capital Management Update
At the time of announcing the completion of the sale of ThinkSmart’s operations in Australia and New Zealand to FlexiGroup Limited on 31 January 2014, ThinkSmart announced that it expected to pay a special dividend of 3.6 cents per share, return capital of 7.4 cents per share and conduct an on-market buy-back of up to 10% of its shares.
ThinkSmart paid the special dividend on 19 February and announced the buy-back on 20 February 2014. Following feedback from shareholders regarding the proposed return of capital of 7.4 cents per share, ThinkSmart is currently considering its strategic options in respect of the return of capital, including the optimal manner by which to return capital to shareholders. Accordingly, the proposed return of capital of 7.4 cents per share may not proceed at this point in time and shareholder approval will not be sought at the 2014 AGM for the proposed capital return. Any required shareholder approvals will be sought at the appropriate time.
Ned Montarello, Executive Chairman
+61 (0)8 9389 4403
Neil Barker, Company Secretary
+61 (0) 402 797 206
ThinkSmart Limited (ASX:TSM) processes high volumes of finance transactions quickly and efficiently through its QuickSmart proprietary technology. This enables online credit approval in just a few minutes whether customers are online or instore. Our products are executable throughout today’s complex retail channel, creating additional revenue and enhanced margin performance – on and off line.
For over 10 years, ThinkSmart has been an exclusive partner to Dixons Retail Plc, during which we have developed compelling Business and Consumer lease finance propositions, most recently introducing Infinity – a first to market offer which enables consumers to upgrade to the very latest Computer or Tablet every 2 years.
This announcement may contain forward-looking statements. Such statements are not guarantees of future conduct, results, performance or achievements and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of ThinkSmart. ThinkSmart cannot give any assurance that the conduct, results, performance or achievements expressed or implied by the forward-looking statements in this announcement will in fact occur. Investors are cautioned not to place undue reliance on the forward-looking statements in this announcement.