Clever shareholders approve capital return

Clever shareholders approve capital return

Shareholders in telecom operator Clever Communications (ASX:CVA) have overwhelmingly approved a motion to return up to $7.2 million in capital to investors.

At the company's AGM, eligible voters chose by a margin of 79 million votes to 60,000 to pass the motion to pay each shareholder $0.06 per share.

The proceeds had been raised following the sale of Clever's non-core off-net business.

The capital return will be conducted in two tranches, with the first payment of $0.04 per share due shortly. The remaining tranche of up to $0.02 per share to be paid by no later than December 31.

CVA shares are currently trading at $0.120.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Clever Communications

Show Comments