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Acquisition of Interest in Pindan Capital Berry Ltd

Date published: 2/02/2017
The Board of Directors (the “Board”) of Oxley Holdings Limited (the “Company”, and together with its subsidiaries, the “Group”) refers to the announcement dated 6 December 2016 pertaining to the Group’s acquisition of a 40% interest in Pindan Group Pty Ltd (“Pindan”) and the grant of a AUD40,000,000 revolving loan facility (the “Loan Facility”) to Pindan Capital Investments Pty Ltd (“PC Investments”).
 
The Board of Directors (the “Board”) of Oxley Holdings Limited (the “Company”, and together with its subsidiaries, the “Group”) refers to the announcement dated 6 December 2016 pertaining to the Group’s acquisition of a 40% interest in Pindan Group Pty Ltd (“Pindan”) and the grant of a AUD40,000,000 revolving loan facility (the “Loan Facility”) to Pindan Capital Investments Pty Ltd (“PC Investments”).

Pindan has, through its development company, Pindan Capital Berry Pty Ltd (“PC Berry”), secured a land sub-division development known as Huntingdale Park located on Hitchcock’s Lane, Berry, New South Wales, Australia (the “Property”). In addition to the Group’s interest in Pindan, the Group has entered into a project development investment agreement to acquire a 25.5% direct interest in PC Berry for an investment of AUD3,825,000, being 25.5% of the total issued capital of PC Berry of AUD15,000,000.

For the purpose of funding the acquisition and development of the Property, PC Investments had requested for a loan of AUD10,725,000 under the Loan Facility.

The investment in PC Berry will be funded by internal resources and the acquisition of an interest in PC Berry is not expected to have any material impact on the net tangible assets per share or earnings per share of the Company for the current financial year ending 30 June 2017.

None of the Directors or controlling shareholders of the Company has any interest, directly or indirectly, in the aforesaid transaction, save through his shareholding in the Company (if any).

By Order of the Board
Ching Chiat Kwong
Executive Chairman and CEO
Oxley Holdings Limited

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