Thursday 24th December 2020 |
Text too small? |
Cavalier Corporation Limited advises that the sale of its Auckland property to Manukau Industrial Holdings Limited for $25.5 million has settled.
Cavalier will lease back the property for a 14-year term, with a further right of renewal for six years, from the new owners.
The $25.5 million is an increase of $900,000 on the earlier contract with Kinleith Land and Infrastructure Limited (Kinleith) which Cavalier cancelled for failure of Kinleith to pay its deposit.
The net proceeds from the sale will be used to provide:
• additional liquidity and funding during the current uncertain operating environment;
• a sound financial footing to better capitalise on the expected eventual recovery in the carpet market; and
• the financial resources to undertake Cavalier’s strategic transformation to the all-wool and natural materials business model.
See the link below for more details:
SettlementAucklandPropertySale
Source: Cavalier Corporation Limited
No comments yet
AIA - June 2025 Monthly traffic update
CHI - Q2 2025 Operational Update
July 15th Morning Report
BPG - Blackpearl Acquires US AI Platform to Accelerate Growth
TGG - Response to media speculation
ARB - Annual Meeting Date and Director Nominations
CNU - Q4 FY25 Connections Update
MOVE FY25 Results and Investor Briefing 29 August 2025
RYM - First quarter trading update
July 11th Morning Report