Real Good Food (LON:RGD) is eyeing paying a dividend with its proposals at next months’ annual general meeting (AGM).
The company hopes shareholders will vote to cancel its share premium account in an attempt to restructure the balance sheet.
It will eliminate the current deficit on RGF’s profit and loss account, creating reserves which will be used to pay dividends, the company said.
The meeting will take place on September 23.
The bakery and ingredients specialist received a further and final £3.4mln from Tereos Group for the sale of its sugar division, Napier Brown, taking the total payment to £10.4mln.
It comes after, netted the company £34mln from the deal back in May.
Executive chairman Pieter Totté said: "The total consideration for the sale of Napier Brown is £44.mln.
“The deal has significantly altered the financial platform from which the company can now operate.
“We have positive cash balances and are cash generative and profitable.”