KRK
30/11/2015 08:30
ASSET
PRICE SENSITIVE
REL: 0830 HRS Kirkcaldie & Stains Limited
ASSET: KRK: Agreement with David Jones Pty Ltd becomes unconditional
Market Announcement
30 November 2015
Agreement with David Jones Pty Ltd becomes unconditional
The directors of Kirkcaldie & Stains Limited (the 'Company') refer to the
Company's earlier announcements relating to the entry into a conditional
agreement with David Jones Pty Limited ('Purchaser'), whereby the Purchaser
will:
o take assignment of the Lambton Quay main store lease
o pay AUD400,000 cash for the name 'Kirkcaldie & Stains'.
On Friday 27 November 2015 after market close, the Purchaser advised the
Company that the condition precedent of obtaining the consent required under
the Overseas Investment Act has been satisfied.
As a result, the Company advises that all conditions under the agreement with
the Purchaser are now satisfied and the agreement is unconditional.
Settlement under the agreement will occur on 1 February 2016.
We remind our customers that Kirkcaldie & Stains' Lambton Quay store will
continue to operate until its closure in January 2016.
Falcon Clouston
Chairman
ENDS
For further information:
Falcon Clouston
PO Box 1494
Wellington 6140
End CA:00274306 For:KRK Type:ASSET Time:2015-11-30 08:31:01
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