Overview of Excelsior Capital Limited's recent development

Excelsior Capital Limited (ASX: $ECL) has received an application from London City Equities Limited (ASX: $LCE) to place the company into liquidation. The application, filed in the New South Wales registry of the Federal Court, alleges that it is just and equitable to wind up the company or that the company's affairs have been conducted in a manner unfairly prejudicial to shareholders. The shareholder meeting to consider the resolution will be held at 11am on Monday, 29 April 2024.

Executive commentary on the application for liquidation

The board is disappointed by the application for liquidation, which it believes will not succeed. The board is committed to defending the application to protect the interests of shareholders and recover legal costs if successful. The action is viewed as disruptive and not supported by the majority of the shareholding of the Company.

Summary of Excelsior Capital Limited's situation

Excelsior Capital Limited (ASX: $ECL) has been served with an application for liquidation by London City Equities Limited. The application alleges that it is just and equitable to wind up the company or that the company's affairs have been conducted in a manner unfairly prejudicial to shareholders. The board is disappointed by this action and is committed to defending the application to protect the interests of shareholders. The shareholder meeting to consider the resolution will be held at 11am on Monday, 29 April 2024. Excelsior Capital Limited will seek to recover its legal costs from the shareholder if successful in defending the application.