..................the Group has generated significant
cash from existing operating activities which has been utilised to:
• repay borrowings of $6,900,000;
• pay interest totalling $1,650,000; and
• settle legal actions which amounted to $2,500,000.
As at today Corum has settled all legal actions, the Group is
debt free, all assets are unencumbered, and tangible assets now
exceed total liabilities.
Accordingly Directors advise that they are of the opinion that up
to 50% of future cash surpluses, which are not able to be utilised
to expand the Company’s operations, should be distributed to
Shareholders; the format of such a distribution is yet to be