KRK
01/02/2016 16:06
ASSET
PRICE SENSITIVE
REL: 1606 HRS Kirkcaldie & Stains Limited
ASSET: KRK: Settlement occurs under agreement with David Jones Pty Ltd
Market Announcement
1 February 2016
Settlement occurs under agreement with David Jones Pty Ltd
Settlement occurs
The directors of Kirkcaldie & Stains Limited (the 'Company') refer to the
Company's earlier announcements relating to the entry into an agreement with
David Jones Pty Limited ('Purchaser'), whereby the Purchaser will:
- take assignment of the Lambton Quay main store lease; and
- pay AUD400,000 cash for the name 'Kirkcaldie & Stains'.
The Company is pleased to advise that settlement under the agreement has
occurred. The Lambton Quay main store lease has been assigned to the
Purchaser and the Company has received the agreed AUD400,000 from the
Purchaser for the name 'Kirkcaldie & Stains'.
Update on capital return application
As previously announced, the Company has applied for orders from the High
Court to approve a scheme of arrangement under Part 15 of the Companies Act
1993 to return approximately $19.354 million of capital to its shareholders.
The Company expects to know shortly whether those orders will be granted and
if so will advise the market of the relevant dates for the capital return
once those exact dates are known.
Falcon Clouston
Chairman
ENDS
For further information:
Falcon Clouston
PO Box 1494
Wellington 6140
End CA:00277077 For:KRK Type:ASSET Time:2016-02-01 16:06:38
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