OVERVIEW :

Update on Contracts and Letter of Offer

 Contract 1

  • $4.65m with conditions and settlement date of January 18th
  • We currently hold a $1.65m deposit and contract was unconditional upon signing.
  • The contract is subject to
    • Finance 30 days
    • Final agreed price for power supply and installation cost by Energex to be supplied to buyer by the 17th of January 2018
    • Further 30 day extension if the buyers requirements are not fulfilled by the Vendor and its suppliers  prior to January 18th 1:00pm
    • The contract has a sunset clause which allows us to except other offers during the term of the contract

Contract 2

  • $4.3m Conditions are: subject to finance 30 days and subject to Due Diligence 45 days. Total 60 days

Contract 3

  • $4.0m Cash buyer. The parties believe this price is to low and we continue to work with the buyer to increase it.

Contract 4

  • $3.8m Cash Buyer. The parties believe this price is to low and we continue to work with the buyer to increase it.

Letter of Offer

  • Offer- $4.35m Conditions are: subject to finance 30 days.

We continue to negotiate all parties to a closing.