Core Insights - Investors may overlook growth-oriented, profitable companies generating free cash flow (FCF) due to home country bias, but can benefit from international exposure through the VictoryShares International Free Cash Flow Growth ETF (GRIN) [1] Group 1: ETF Overview - GRIN tracks the Victory International Free Cash Flow Growth Index, targeting high-growth, international large-cap companies with potential for compounding FCF generation over time [2] - The Index uses FCF as a forward-looking measure, filtering companies based on FCF trends, FCF to return on invested capital, and growth prospects [2] Group 2: Importance of FCF - FCF is a key metric for assessing sustainable growth companies, indicating their ability to reinvest, offer dividends, or buy back stock, all contributing to shareholder value [3] - GRIN's indexed approach focuses on international companies exhibiting these characteristics, helping diversify portfolios concentrated in U.S. equities [3] Group 3: Notable Holdings - Rolls-Royce Holdings, a British aerospace and defense company, is a top holding in GRIN with a 3.88% allocation, potentially benefiting from increased military spending in the EU [4] - Siemens Energy, a German company, is experiencing record orders due to power demands from AI applications, crucial for Europe's power grid [5] - Siemens is also a leading wind power company, contrasting with the U.S. political agenda, highlighting missed opportunities for investors with a home country bias [6] - Sea Limited, based in Singapore, has seen a nearly 70% increase in value for the year as of 8/31/2025, capitalizing on e-commerce strength in Southeast Asia [7] Group 4: Diversification Strategies - For global diversification, investors can pair GRIN with other VictoryShares ETFs, such as the value-oriented VictoryShares Free Cash Flow ETF (VFLO), which focuses on high-quality, large-cap U.S. stocks [8] - The VictoryShares Free Cash Flow Growth ETF (GFLW) provides exposure to U.S. companies with high FCF profitability and growth potential [9]

Core Points - Grindrod Shipping Holdings Ltd. announced the effectiveness of its selective capital reduction on August 16, 2024, under Singapore's Companies Act of 1967 [1] - The capital reduction involved the cancellation of all issued ordinary shares held by shareholders, except for those held by Good Falkirk (MI) Limited, with a cash distribution of $14.25 per participating share expected to be paid by August 21, 2024 [2] Company Overview - Grindrod Shipping operates a diversified fleet of owned and chartered-in drybulk vessels, primarily under the brand "Island View Shipping" [3] - The company is headquartered in Singapore and has additional offices in London, Durban, and Rotterdam, and is listed on NASDAQ and the Johannesburg Stock Exchange [3]

Core Viewpoint - Grindrod Shipping Holdings Ltd. intends to voluntarily delist its ordinary shares from the NASDAQ Global Select Market as part of a proposed Selective Capital Reduction, which will take effect on August 16, 2024 [1][2]. Company Actions - The Selective Capital Reduction will result in the cancellation of all ordinary shares held by shareholders, except for those held by Good Falkirk (MI) Limited [2]. - Each Participating Shareholder will receive US$14.25 per Participating Share as part of the Selective Capital Reduction [3]. - The company plans to file a Form 25 with the Securities and Exchange Commission on August 16, 2024, to effect the delisting, which will be effective before the opening of NASDAQ on August 26, 2024 [3]. Company Overview - Grindrod Shipping predominantly operates a diversified fleet of owned and chartered-in drybulk vessels, including handysize and supramax/ultramax carriers under the brand "Island View Shipping" [4]. - The company is based in Singapore, with additional offices in London, Durban, and Rotterdam, and is listed on NASDAQ under the ticker "GRIN" and on the JSE under the ticker "GSH" [4].

Core Viewpoint - Grindrod Shipping Holdings Ltd. has received approval from the High Court of Singapore for a Selective Capital Reduction, allowing for a cash distribution of US$14.25 per participating share to eligible shareholders [2][11]. Group 1: Effective Date and Trading Suspension - The Effective Date for the Selective Capital Reduction is set for August 16, 2024, with trading on Nasdaq suspended from August 15, 2024 [3][14]. - Trading of shares on the Johannesburg Stock Exchange (JSE) will be suspended starting August 16, 2024 [4]. Group 2: Cash Distribution Details - Shareholders on Nasdaq as of the Effective Date will receive a cash distribution of US$14.25 per share [3]. - For shareholders on the JSE, the cash distribution will be converted to South African Rand (ZAR) at an exchange rate of USD 1: ZAR 18.11500, equating to approximately 25,813.875 South African cents per share [15][19]. Group 3: Important Dates - Key dates include the last day of trading on Nasdaq and JSE, the Effective Date of the Selective Capital Reduction, and the payment date for the cash distribution, all occurring in August 2024 [5][18]. - The expected delisting from NASDAQ is scheduled for August 26, 2024, with the final delisting from JSE on August 30, 2024 [6][18]. Group 4: Tax Considerations - The cash distribution is classified as a "capital distribution" and is not subject to withholding tax in Singapore [19]. - South African tax resident shareholders should consult their tax advisors regarding the implications of the capital distribution, which may affect their base cost for capital gains tax purposes [19].

Core Viewpoint - Grindrod Shipping Holdings Ltd. has received approval from the High Court of Singapore for a Selective Capital Reduction, allowing participating shareholders to receive a cash distribution of US$14.25 per share [2][11]. Group 1: Selective Capital Reduction Details - The effective date for the Selective Capital Reduction is set for August 16, 2024, with trading on Nasdaq suspended from August 15, 2024 [3][14]. - Shareholders on the JSE will also be eligible for the cash distribution, which will be converted to South African Rand at an exchange rate of USD 1: ZAR 18.11500, equating to 25,813.875 South African cents per share [15][19]. - The payment of the cash distribution will occur following the effective date, with specific trading and record dates outlined for both Nasdaq and JSE [5][18]. Group 2: Trading Suspension and Delisting - Trading of shares on the JSE will be suspended starting August 16, 2024, and the company is expected to be delisted from NASDAQ on August 26, 2024 [4][6]. - No repositioning of shares between the JSE and the U.S. register will be permitted from August 15 to August 20, 2024 [18]. Group 3: Additional Information for Shareholders - The cash distribution is classified as a "capital distribution" and is not subject to withholding tax in Singapore [19]. - South African shareholders are advised to consult tax advisors regarding the implications of the capital distribution, particularly concerning capital gains tax [19].

Core Viewpoint - Grindrod Shipping Holdings Ltd. has received approval from the High Court of Singapore for a selective capital reduction, which will decrease its issued share capital and return cash to participating shareholders [2][6]. Company Overview - Grindrod Shipping is a global provider of maritime transportation services, primarily in the drybulk sector, operating a diversified fleet of owned and chartered-in drybulk vessels [3]. - The company operates under the brand "Island View Shipping" and has a core fleet that includes handysize and supramax/ultramax drybulk carriers [3]. - Grindrod Shipping is headquartered in Singapore and has additional offices in London, Durban, and Tokyo [3]. Selective Capital Reduction Details - The selective capital reduction will reduce the company's issued share capital from US$290,193,001 to US$240,614,044, resulting in a cancellation of 3,479,225 shares [2][6]. - A total of US$49,578,956 will be returned to participating shareholders at a rate of US$14.25 per share cancelled [2][6]. Regulatory Compliance - The selective capital reduction will take effect upon the lodgement of the Court Order and other required documents with the Registrar of Companies in Singapore [9].

Core Viewpoint - Grindrod Shipping Holdings Ltd. has announced a selective capital reduction approved by the High Court of Singapore, reducing its issued share capital from US$290,193,001 to US$240,614,044, which involves the cancellation of 3,479,225 shares and returning US$49,578,956 to participating shareholders [5][9]. Company Overview - Grindrod Shipping is a global provider of maritime transportation services, primarily in the drybulk sector, operating a diversified fleet of owned and chartered vessels [10]. - The company is based in Singapore and has offices in London, Durban, and Tokyo, and is listed on NASDAQ and JSE [10]. Financial Details - The selective capital reduction will result in a cash return of US$14.25 per share to participating shareholders [9]. - The total number of ordinary shares will decrease from 19,685,590 to 16,206,365 as part of this capital reduction [5][6].

_________________________________ The new Subordinate Voting Shares will commence trading at market open on June 26, 2024. Conformément à la Réorganisation des actions, la Société a l'intention de modifier ses statuts pour redésigner sa catégorie actuelle d'actions ordinaires sans valeur nominale dans le capital de la Société (les « Actions ordinaires ») en actions à droit de vote subalterne (« Actions SV »), créer un nombre illimité d'une nouvelle catégorie d'actions à droit de vote multiple non cotées (« ...

Core Viewpoint - Grindrod Shipping Holdings Ltd. held an extraordinary general meeting to approve a selective capital reduction, which aims to reduce the company's issued share capital and return cash to participating shareholders [1][4]. Group 1: Extraordinary General Meeting (EGM) Details - The EGM took place on June 20, 2024, with a quorum achieved by 1,504,373 shares, representing approximately 46.067% of the shares entitled to vote [2]. - Good Falkirk (MI) Limited and its concert parties, holding 16,419,947 shares, abstained from voting at the EGM [2]. Group 2: Selective Capital Reduction Proposal - The SCR Proposal involves reducing the issued share capital from US$290,193,001 (19,685,590 shares) to US$240,614,044 (16,206,365 shares) [3]. - The reduction will cancel US$49,578,956 of paid-up share capital held by participating shareholders, who will receive US$14.25 per share for the 3,479,225 shares cancelled [3]. Group 3: Voting Results - The SCR Proposal was approved with 1,434,605 shares (95.714%) voting in favor, 64,241 shares (4.286%) against, and 5,527 shares (0.367%) abstaining [5][6]. Group 4: Company Overview - Grindrod Shipping operates a diversified fleet of drybulk vessels and is based in Singapore, with additional offices in London, Durban, and Tokyo [7]. - The company is listed on NASDAQ under the ticker "GRIN" and on the JSE under the ticker "GSH" [7].

Alexey_LesikNote: I have covered Grindrod Shipping Holdings Ltd. (NASDAQ:NASDAQ:GRIN) previously, so investors should view this as an update to my earlier articles on the company. Grindrod Shipping Holdings Ltd. or "Grindrod Shipping" is a medium-sized dry bulk shipping company focused on the smaller, geared vessel classes. In late 2022, major shareholder Taylor Maritime Investments Limited (OTCPK:TMILF) or "Taylor Maritime" launched a cash tender offer with an aggregate value of $26 per common share. W ...