VIL
12/05/2016 09:25
ASSET
NOT PRICE SENSITIVE
REL: 0925 HRS Veritas Investments Limited
ASSET: VIL: Kiwi Pacific Food Update
NZX Release
12 May 2016
Kiwi Pacific Food Update
The Board of Veritas Investments Limited (NZX:VIL) is pleased to announce
that the land and building owned by the Kiwi Pacific Foods joint venture
(KPF) at 22 Alderman Place, Mangere East, Auckland, has been successfully
sold by auction on 11 May 2016.
There are no conditions attaching to the sale, which will settle on 30 June
2016.
The sale of the freehold land and buildings at 22 Alderman Place follows the
orderly wind down programme for KPF, which has been agreed between Veritas
and its joint venture partner, Antares Restaurant Group.
As previously announced, the proceeds of the sale will first be used to repay
KPF's external debt, with the remainder to be distributed to each joint
venture partner.
KPF will continue with its orderly wind down process through the sale of its
remaining assets, such as plant and equipment and stock.
For further information, contact:
Tim Cook
Chairman, Veritas Investments Limited
021 764 401
[email protected]
About Veritas Investments Limited
Veritas Investments is an NZX Main Board-listed investment company focusing
in the Food and Beverage, Franchise and Hospitality sectors. The shell
company was formed in December 2011 and made its first acquisition of the Mad
Butcher franchisor business in May 2013 through a reverse acquisition
transaction. A further investment was made in December 2013 for 50% of Kiwi
Pacific Foods Limited. In September 2014 Veritas acquired the Nosh Food
Market business. In November 2014 Veritas acquired The Better Bar Company
group business.
www.veritasinvestments.co.nz
End CA:00282252 For:VIL Type:ASSET Time:2016-05-12 09:25:34
