evans tate agrees on griffith winery sale

it really is a good drop IMO and is now a cheap buy from on all fronts. LOL

Sydney - Friday - July 14: (RWE Australian Business News) -
Evans & Tate Ltd (ASX code: ETW) has agreed to the sale of its
Barramundi winery at Griffith in the Riverina district of NSW.
Binding agreements for the asset sale and for wine storage have
been entered into with TWG Australia Pty Ltd.
Settlement is scheduled for August 11, after final conditions
precedent have been satisfied.
Total consideration is expected to exceed $8 million, which is
slightly above book value.
The exact amount is to be determined post-settlement. Proceeds
from the sale will be used to repay debt and meet restructuring costs.
Managing director Mr Martin Johnson said: "The sale is a very
positive step towards delivering our turnaround strategy."
The announcement was made after the close of trading.
Shares in Evans & Tate rose 0.6c to 8.3c today.