QuickFee Limited has announced a shareholder-approved return of capital totaling approximately A$28.5 million, funded by proceeds from the sale of its US Pay Now and Connect businesses. Shareholders will receive 7.5 cents per share, with payments scheduled for early December.
- 7.5 cents per share capital return approved by shareholders
- Total payout approximately A$28.5 million from US business sale proceeds
- Capital return reduces company’s share capital and borrowings
- Adjustments made to option exercise prices and performance rights
- Payments to shareholders scheduled for 1 December 2025
Capital Return Approved Following US Business Sale
QuickFee Limited (ASX, QFE), a financial technology company focused on accelerating accounts receivables for professional service firms, has confirmed a return of capital to shareholders amounting to 7.5 cents per share. This move follows shareholder approval at the company’s Annual General Meeting on 18 November 2025 and is funded by proceeds from the recent sale of its US Pay Now and Connect businesses.
The total capital return is approximately A$28.5 million, reflecting the current fully paid ordinary shares on issue. This return is part of QuickFee’s strategy to distribute excess capital generated from asset sales while maintaining sufficient cash reserves to support ongoing operations and reduce borrowings.
Implications for Shareholders and Company Structure
The capital return will reduce QuickFee’s share capital account, effectively decreasing the company’s capital base. However, the board believes that the remaining cash reserves and operational cash flows will be adequate to sustain the business in the medium term. Importantly, shareholders will retain their proportional ownership percentages, and the return will be executed without transaction costs to them.
Alongside the capital return, QuickFee has adjusted the exercise prices of its issued options and performance rights to reflect the reduced share capital, ensuring fair treatment of option holders. Detailed adjustments have been disclosed, with exercise prices lowered accordingly.
Payment Process and Timetable
Shareholders will receive instructions on how to claim their payments, with options for direct credit into bank accounts or receiving bank cheques. The record date for entitlement is 24 November 2025, and payments are scheduled to be made on 1 December 2025. The company has emphasized the importance of shareholders updating their banking details to facilitate smooth payment processing.
While the capital return is a positive return of value to shareholders, QuickFee has noted potential tax implications and is considering seeking a tax ruling from the Australian Taxation Office to clarify these effects.
Looking Ahead
This capital return marks a significant milestone in QuickFee’s post-sale capital management strategy. The company’s focus remains on leveraging its core financial technology platform to serve accounting and legal professionals in Australia and the United States, while prudently managing its capital structure.
Bottom Line?
QuickFee’s capital return delivers immediate shareholder value but signals a leaner capital base as the company refocuses post-US business sale.
Questions in the middle?
- How will QuickFee deploy the remaining proceeds from the US business sale?
- What are the potential tax consequences for shareholders receiving the capital return?
- Will QuickFee pursue further asset sales or capital returns in the near future?