From the press release:
AEP ANNOUNCES PROGRAM TO MAXIMISE SHAREHOLDER VALUE:
• $60 million pro-rata return of capital proposed
• Continuation of business model for existing investments
• Suspension of new investment activity for the time being
• Shareholder vote in two years to determine future direction of the Company depending on
share price performance
AEP is a private equity company listed on the Australian Stock Exchange. The stock has been trading at less than 50% of net asset value for a while now. So it is good that they are looking to try to boost the share price, which indeed did rise on Friday following the announcement. It would be a shame though if this opportunity for retail investors to participate in private equity was wound up in the end.
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