- Release Date: 27/08/12 17:06
- Summary: ASSET: WHS: Sale of Properties
- Price Sensitive: No
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WHS 27/08/2012 15:06 ASSET REL: 1506 HRS The Warehouse Group Limited ASSET: WHS: Sale of Properties Auckland, 27 August 2012 THE WAREHOUSE GROUP LIMITED Sale of Properties Following the marketing of various properties, as announced on 1 June 2012, The Warehouse is pleased to advise that it has entered into unconditional contracts to sell the North Island Distribution Centre in Wiri and two stores in addition to a conditional contract to sell a third store. These properties will all be leased back to The Warehouse on long term contracts. Settlement of the four property sales is expected to be completed in September 2012. Once completed these sales are expected to realise proceeds of $117 million and will generate a pre-tax gain of between $62 to $64 million. The sale proceeds will be reinvested in the business in line with the priorities identified in the company's strategic plan. Further details will be included in the Group's Full Year Result announcement on 7 September 2012. ENDS Contact details regarding this announcement: Mark Powell, Group CEO to be contacted via Wendy Irving on +64 9 488 3231 End CA:00226504 For:WHS Type:ASSET Time:2012-08-27 15:06:35
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Ann: ASSET: WHS: Sale of Properties
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