Sharechat Logo

Steel & Tube Holdings Limited (NZX: STU) Announces Sale and Leaseback of Property

Tuesday 22nd December 2020

Text too small?

Steel & Tube Holdings Limited has signed an unconditional agreement to sell its property at 26 – 32 Hautonga St, Petone, Lower Hutt for $7 million on a sale and lease back basis.

The sale is expected to be completed on 22 March 2021.

Steel & Tube will continue to lease the property for a term of 2 years with two further rights of renewal of one year each.

The transaction has no material impact on the normalised earnings guidance provided by the Company on 17 December 2020.

See the link below for more details:

Steel & Tube Announces Sale and Leaseback of Property

Source: Steel & Tube Holdings Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MPG - Metroglass clarifies media statements by Crescent Capital
VTL - Takeovers Panel orders Empire to reimburse Vital's expenses
March 14th Morning Report
SKT - Sky secures iconic sports rights
RYM - Ryman completes Retail Entitlement Offer
TEM - Transaction in Own Shares
FPH launches F&P Nova™ Nasal mask in NZ and AU
Fonterra announces changes to management team
March 12th Morning Report
WHS FY25 Interim Results teleconference details