BIL
01/02/2016 08:30
ASSET
PRICE SENSITIVE
REL: 0830 HRS Bethunes Investments Limited
ASSET: BIL: Settlement of Sale of Webb's
1 February 2016 - Settlement of Sale of Webb's
Further to Bethunes Investments Limited's (NZX:BIL) entry into a conditional
sale and purchase agreement with Mossgreen NZ Limited (Mossgreen) to sell the
business and assets of Peter Webb Galleries Limited (Webb's) and the
subsequent approval of the sale by shareholders on 15 January 2016, BIL is
pleased to advise that the final condition of that agreement was satisfied on
the afternoon of 29 January 2016 and that settlement of the sale of Webb's
was completed shortly after 5:30PM.
BIL is excited for the Webb's business, clients and staff, as we have sold to
a very experienced operator in Melbourne auction house, Mossgreen, who will
add significant value to the foundations laid by BIL.
BIL also looks forward to pursuing new investment strategies for the benefit
of shareholders. BIL will update the market with any developments in this
regard.
Christopher Swasbrook
Chairman
Email: [email protected]
End CA:00277016 For:BIL Type:ASSET Time:2016-02-01 08:30:00
