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| Company |
Code |
Released |
Type |
Headline |
| Kermadec Property Fund Limited |
KPF |
28 Sep, 2007, 09:18 |
ASSET |
KERMADEC SETTLES PROPERTY SALE FOR $8.36M |
| Full Text of Announcement |
KERMADEC SETTLES PROPERTY SALE FOR $8.36M
Following its announcement of 28 June 2007, Kermadec
Property Fund Limited has today completed the sale of
its property at 9-11 Ratanui Street, Henderson. The
sale price of $8.36 million is in excess of the book
value assessed as at 31 March 2007 at $8.1 million.
The sale proceeds have reduced the Company's net debt
to approximately $39.9 million, resulting in a
reduction in the company's gearing ratio from 35% to
32%.
-ENDS-
For further information please contact:
Chris Francis
Director
Augusta Funds Management Ltd
Phone: (09) 300 6161
Fax: (09) 300 6162
Email: chris@augusta.co.nz
About Kermadec Property Fund Limited -
Kermadec Property Fund listed on the NZSX in December
2006. Its $126m portfolio of eight properties provides
diversified exposure to the office, industrial and car
park sectors, strongly focused on the Auckland market
and individual industrial properties in Hamilton and
Palmerston North. |
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