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PPK GROUP LIMITED — Capital/Financing Update 2014
Jun 25, 2014
65603_rns_2014-06-25_9353f6e0-d3cd-4f76-86a3-a04a97273e1a.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
FOR IMMEDIATE RELEASE TO THE MARKET
26 June 2014
PPK Group Limited - ASX Code: PPK
Arndell Park Site sells for $12.24 million
PPK is pleased to announce that, it has sold its Arndell Park property for a net consideration of $12.24 million following the exercise of Call Options granted to an associated entity of the Lessee. (This consideration will result in a non-cash impairment of approximately $250,000). The sale is due to settle by no later than 17 October 2014.
The $12.24 million proceeds from the sale will be used to fund a combination of further mining services focussed acquisitions, debt reduction and associated capital management strategies that the PPK Board is currently considering.
For further information contact:
Robin Levison Executive Chairman
Tel: 07 3054 4500
PPK GROUP LIMITED ABN: 65 003 964 181
LEVEL 31, AUSTRALIA SQUARE, 264-278 GEORGE STREET, SYDNEY NSW 2000 PO BOX H18, AUSTRALIA SQUARE NSW 1215 TEL: +61 2 9241 7372