Global Yellow Pages completes buyout of New Zealand property
Net proceeds amount to $5.2m.
Global Yellow Page indirect wholly-owned subsidiary, The Remarkables Residences Limited (formerly known as GYP Properties Limited), has entered into a conditional agreement for sale and purchase of real estate with Queenstown Central Limited.
The acquired property is a plot of freehold land of approximately 38,400 sqm located at Eastern Access Road, Queenstown New Zealand.
The acquisition realised net proceeds of $5.2m from the placement of 34,076,000 new ordinary shares in the capital of the Company completed on 7 October 2016.