The Eildon Capital Group (ASX: EDC) entered a joint venture, Officer South Landholding Trust, to acquire property at 90 Handford Lane, Officer, Victoria. The Group committed to co-invest 15% of the capital over four years, with settlement expected in February 2028. Additionally, a wholly-owned subsidiary was engaged to manage the joint venture under an Investment Management Agreement (IMA).
However, the departure of key personnel over the past six months triggered termination conditions under the IMA. Consequently, the trustee terminated the agreement, and the joint venture partners agreed to acquire the Group’s 15% stake at book value, approximately AU$1.98 million. The transaction, set to complete in February 2025, will reverse a contingent liability of AU$11.06 million from the accounts. The Group extends its best wishes to the joint venture partners for the project’s success. This announcement was approved by the Board for release.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
