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GROUP ONE CAPITAL LIMITED — Capital/Financing Update 2008
Feb 21, 2008
64957_rns_2008-02-21_4311a0e8-b453-4482-b338-000e463c63ac.pdf
Capital/Financing Update
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City Pacific Limited DEVELOPING FINANCIAL OPPORTUNITIES
� FINANCIAL SERVICES � FUNDS MANAGEMENT � PROPERTY
ASX RELEASE February 22, 2008
MARINERS COVE ACQUISITION
RAPTIS GROUP LIMITED (RPG) AND CITY PACIFIC LIMITED (CIY)
Settlement on the purchase of Mariner’s Cove by Raptis Group Limited and City Pacific Limited has been delayed by mutual agreement until April 4.
In August last year S P Marina Pty Ltd, a joint venture vehicle between Raptis Group and City Pacific, agreed to acquire the crown leasehold retail and marina complex located on Seaworld Drive, Main Beach.
Under the original and continuing terms of the joint venture arrangement, Raptis Group is responsible for development activities and City Pacific for funding.
In December Raptis Group and City Pacific advised the settlement of the site was expected by 15 February 2008. By mutual agreement between the parties the date for settlement has been extended to April 4.
Raptis Group and City Pacific are looking forward to progressing the development.
CITY PACIFIC LIMITED
Phil Sullivan Managing & CEO
� BRISBANE � SYDNEY � MELBOURNE � GOLD COAST Level 12, 300 Queen Street Level 12, 32 Martin Place Level 7, 50 Market Street City Pacific House, 2 Miami Key Brisbane QLD 4000 Sydney NSW 2000 Melbourne VIC 3000 Broadbeach Waters QLD 4218 GPO Box 2456 GPO Box 969 PO Box 275, Collins Street West PO Box 783 Brisbane QLD 4001 Sydney NSW 2001 Melbourne VIC 8007 Pacific Fair QLD 4218 T 07 3229 7129 F 07 3229 5796 T 02 9238 0822 F 02 9238 0833 T 03 9629 1777 F 03 9629 1677 T 07 5554 0200 F 07 5575 6366
ACN 079 453 955 National Phone: 13 47 69 Email: [email protected]