BEACHWOOD, Ohio, March 6, 2023 - Retail Value Inc. (“RVI” or the “Company”) today announced that the Company’s Board of Directors authorized a liquidating distribution of $0.17 per share to the holders of the Company’s common shares, payable on April 5, 2023 to the holders of common shares as of 5:00 p.m. Eastern Time on April 4, 2023. The distribution was funded with cash on hand, collections of accounts receivable and approximately $0.8 million previously held in reserve for potential claims by a purchaser under a property sale agreement which did not materialize prior to the expiration of the general survival period.
Subject to uncertainties inherent in the winding-up of the Company, RVI may make one or more additional liquidating distributions. However, no assurances can be made as to the ultimate amounts to be distributed, if any, or the timing of any such distributions. Any such distributions would be made to the holders of common shares as of 5:00 p.m. Eastern Time on April 4, 2023, subject to certain exceptions.
In connection with the upcoming distribution, RVI will close its stock transfer books and discontinue recording transfers of common shares, effective as of 5:00 p.m. Eastern Time on April 4, 2023. As a result, after such time the common shares will no longer be assignable or transferable on the Company’s books, other than transfers by will, intestate succession or operation of law.
Last updated: 2024-05-04 - v1.3