Avance Gas Holding Ltd: First Quarter 2025 Earnings Release

Financial Performance - The company reported a net profit of $42.6 million and earnings per share of$0.56 for Q1 2025, a significant decrease from the net income of $210.2 million and earnings per share of$2.74 in Q4 2024 [4] - The company completed the sale of four Mid-Sized Gas Carriers (MGCs) newbuilding contracts to Exmar LPG B.V., receiving a total of $96.3 million, including$62.1 million in March and $34.2 million in April 2025 [4] - During Q1 2025, the company distributed$435.7 million to shareholders, which included $153.2 million as return of capital,$57.4 million in extraordinary dividends, and $225 million in BW LPG shares [4] Shareholder Returns - The company declared a final extraordinary distribution of$0.74 per share on April 16, 2025, with $0.16 per share as return of capital and$0.58 per share as extraordinary dividend, scheduled for payment on May 7, 2025 [4] - The total cash proceeds from Exmar related to the MGC newbuilding sale amounted to $96.3 million, reflecting the company's strategy of returning capital to shareholders [4] Strategic Decisions - Following the completion of asset sales, the company has decided to wind up operations and called for a Special General Meeting on May 16, 2025, to resolve delisting and proceed with voluntary liquidation [4] - The company does not plan to make new investments and has sold all its assets, indicating a shift towards capital return rather than growth [4]