Wingara AG Limited makes an offer to sell its Raywood property

Feb 20, 2023

Wingara AG Ltd (ASX: WNR) signed a binding, conditional sale agreement with Balco Australia Pty Ltd for the sale of its 100% owned Raywood Hay Processing Plant for AU$15.0 million in cash plus working capital adjustments.

Balco's purchase of the Raywood Facility for AU$15.0 million (exclusive of GST and other regulatory taxes payable by Balco) would include the following: AU$14,300,000 due on settlement and AU$700,000 payable to an escrow account on settlement. The escrow payment will be released six months following settlement if there are no warranty claims. The funds will be used to settle the debt and issue a Special Dividend, leaving the firm with an anticipated AU$4.3 million in net cash.

 

 

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