Aquis Entertainment announced the completion of the sale of Aquis Canberra and the change of directors

Aquis Entertainment Limited (ASX: AQS) announced that it had completed the sale of Aquis’ wholly owned subsidiary, Aquis Canberra Pty Ltd, to Iris CC Holdings Pty Ltd. In the deal, Aquis received AU$60,500,000 as a payment. An additional AU$2.5 million of cash is being held in deed and will be released to Aquis in 9 months from completion. Funds received from the sale will be used to repay the loan owed by Aquis to its majority shareholder.

Change of directors

The company announced that it has appointed Mr. Simon Chan and Mr. Tom Pickett as non-executive directors of the company following the completion of the sale of Aquis Canberra. Mr. Chan is a Gold Coast based lawyer, specialising in property law, covering all aspects of property law from negotiating contracts through to advising on financing and structure. Mr. Pickett is a lawyer with experience in various industries comprising mining exploration, law, tourism and hotels, having held executive and board positions in both listed and unlisted companies

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