Eredene Capital to return surplus cash to shareholders

Eredene Capital, an investor in Indian infrastructure, leapt after unveiling plans to return 15.3m pounds of surplus cash to shareholders and isproposing an 18p per share tender offer for 19 per cent of shareholdings - a pro-rata return of 3.42p per share.

Eredene Capital, an investor in Indian infrastructure, leapt after unveiling plans to return 15.3m pounds of surplus cash to shareholders and isproposing an 18p per share tender offer for 19 per cent of shareholdings - a pro-rata return of 3.42p per share.

Eredene said the move was part of its decision to embark on a new phase to concentrate on its existing investments in India, and that having negotiated its commitment to a new container terminal at Ennore Project down from £29.5m to £14.2m, it will return £15.3m of the £29.5m raised through a placing that was made to fund the original sum.

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