KRK
15/06/2015 13:34
ASSET
PRICE SENSITIVE
REL: 1334 HRS Kirkcaldie & Stains Limited
ASSET: KRK: Update on Conditional Agreement with David Jones Pty Ltd
The directors of Kirkcaldie & Stains Limited (the 'Company') refer to the
Company's earlier announcement dated 4 June 2015 relating to the entry into a
conditional agreement with Australian retailer David Jones which will result
in David Jones establishing its first department store in New Zealand,
operating out of Kirkcaldie & Stains Lambton Quay premises from mid-2016.
David Jones has today advised the Company that the condition precedent of
obtaining a satisfactory detailed seismic assessment report in respect to the
department store premises has been satisfied.
The agreement is still conditional on:
o the approval of Kirkcaldie & Stains' shareholders being obtained by 30 July
2015
o consent of the landlord of the Lambton Quay store premises being obtained
by 2 July 2015
o necessary consent required by the purchaser from the Overseas Investment
Office being obtained by 30 November 2015.
Further details of the transaction will be disclosed in the notice of special
meeting that will be distributed to the Company's shareholders in mid-July.
Falcon Clouston
Chairman
ENDS
For further information:
Falcon Clouston
P O Box 1494
Wellington 6140
End CA:00265692 For:KRK Type:ASSET Time:2015-06-15 13:34:51
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