Steel & Tube Holdings Limited (NZX: STU) Announces Sale and Leaseback of Property

Steel & Tube Holdings Limited has signed an unconditional agreement to sell its property at 26 – 32 Hautonga St, Petone, Lower Hutt for $7 million on a sale and lease back basis.

The sale is expected to be completed on 22 March 2021.

Steel & Tube will continue to lease the property for a term of 2 years with two further rights of renewal of one year each.

The transaction has no material impact on the normalised earnings guidance provided by the Company on 17 December 2020.

See the link below for more details:

Steel & Tube Announces Sale and Leaseback of Property

Source: Steel & Tube Holdings Limited

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

July 8th Morning Report
Half-way predictions scorecard
SKT - Sky appoints new Chief Financial Officer
July 7th Morning Report
CDC Independent Valuation - 30 June 2025
TruScreen Group Limited SPP Update
THL provides updated guidance
CEN - Greymouth gas deal
July 4th Morning Report
July 3rd Morning Report