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RAIDEN RESOURCES LIMITED — Capital/Financing Update 2007
Jul 9, 2007
65675_rns_2007-07-09_955fedaf-8ac7-4616-bfa4-ecf02edd1f42.pdf
Capital/Financing Update
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10[th] July 2007
Company Announcements Office Australian Stock Exchange Ltd Sydney 2000
RE: Purchase of a new Village
Medical Monitors Limited (ASX:MDM) is pleased to announce the purchase of Southwood Estate, an over 50’s gated community situated at 56 Carrs Road, Neath, NSW. The existing village has 57 villas completed and sold, with a further 41 to be built and sold. The village currently generates $255,039.00 in gross revenue, which the company anticipates increasing to $445,853.00 in gross revenue on completion of stage 1.
Subject to local council approval, Medical Monitors Limited will look to develop the joining land as stage 2. Completion of stage 2 will have 75 homes built and sold, generating an additional expected $349,050.00 in gross revenue per annum, taking the total gross revenue for the Village up to $794,903.00 on completion of stage 1 and 2.
Consideration paid for Southwood Estate was $3,150,000.00 funded through a private debt facility with future capacity to rollover to equity at a later date.
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Lynn Thompson
Company Secretary
Medical Monitors Limited
PO Box 494 Redbank QLD 4301 Tel: (07) 3381 9647