CCX city chic collective limited

Matters subsequent to the end of the financial period During the...

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    Matters subsequent to the end of the financial period During the financial period on 2 July 2018, the Group completed the sale of the businesses associated with the operations and brands of Millers, Katies, Rivers, Autograph and Crossroads to Noni B Limited. The agreement was to sell these brands for consideration of $31.0 m (plus or minus post completion adjustment). Independent experts were appointed to determine the outcome of the completion adjustment and other aspects of the Business Sale Agreement. As announced by the Group to the ASX on 24 June 2019, those disputes were determined by independent experts in the Group’s favour. On 31 July 2019, Noni B Limited filed proceedings in the Supreme Court of New South Wales seeking orders setting aside the independent experts’ determination. Notwithstanding that City Chic received a favourable expert determination, given the subsequent proceedings filed by Noni B, the Group has been prudent and provisioned accordingly.

    does anyone have any thoughts on this.
 
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Last
8.3¢
Change
-0.002(1.78%)
Mkt cap ! $31.96M
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8.2¢ 8.3¢ 8.2¢ $6.348K 76.48K

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No. Vol. Price($)
2 120482 8.3¢
 

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Price($) Vol. No.
8.5¢ 10916 2
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