On 14 December 2015 the Company completed the sale of its entire equity interest in Pure Wafer, Inc. to Wafer Holding Company, LLC. As such Pure Wafer, Inc. is unaffected by the members voluntary liquidation and continues to trade as normal from its facility in Prescott, Arizona. For further information on Pure Wafer, Inc. please go to the following website: www.purewaferinc.com or alternatively contact Pure Wafer, Inc. directly on +1-928 -771-8900.
The Pure Wafer plc was placed into members’ voluntary liquidation on 7 January 2016 and Derek Hyslop and Samantha Keen were appointed Joint Liquidators.
Samantha Keen and Derek Hyslop are licensed in the United Kingdom to act as an insolvency practitioner by the Insolvency Practitioners Association.
Distribution Update from Joint Liquidators
I refer to the Circular dated 11 December 2015 (‘the Circular’) in which the Directors indicated that, at that date, they anticipated a first distribution of 167 pence per share would be made on or around 11 January 2016.
Please note that the distribution will be sent out to shareholders on 13 January 2016 and will be a distribution of 163 pence per share. It was noted in the Circular that the amount of any distribution was subject to a number of factors, one of which was the agreement of tax computations. In the event, tax clearance on a particular matter has not yet been forthcoming and so the Joint Liquidators are retaining a provision against that which has resulted in a reduced first distribution of 163p.
It should be noted that this is a provision only and that it is anticipated that in due course tax clearance will be obtained and that the Joint Liquidators will be in a position to release this provision and distribute this sum to shareholders in accordance with the circular.
Please note there was a slight delay in making the distribution which was caused by the Company’s bankers needing to obtain certain clearances in order to execute the transfer of funds to the registrar.