Valad have six sites in NZ up for auction in 4 weeks time ,interest has been strong according to agents with sites expected to sell priced on a yeild of around 8%. so another 15-20 mill will be on hand in April ,coupled with other non core asset sales in the pipeline ,expect Valad to in a much stronger position come mid year
cash backing alone is 13.35c/share at 31/12/08, page-3
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