JSM considers spring dividend

Date: Friday 05 Feb 2010

Vietnam and Cambodia focused property investment company JSM Indochina is considering paying an initial dividend distribution before its 2009 figures are audited.

The newly elected board wanted the company to distribute surplus cash to shareholders and that is why an EGM was requisitioned to remove the old board last year. The audit of the 2009 figures will not be complete before the end of March 2010 at the earliest.

A n updated net asset value should be published “in the coming weeks”.

JSM continues to investigate litigation in California involving JSM’s former chief executive Craig Jones. It appears that some of the litigation has been settled. Newer litigation has come to light. Jones says that his legal adviser is preparing a detailed report on the litigation for JSM.

Jones is also seeking to refinance a loan from the company but JSM says that there is no certainty that it will be repaid.

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