Asset Plus (NZX:APL) has been granted a Settlement Notice in respect to the Eastgate settlement, with settlement now required to occur by 5pm on 31 August 2022.
If the company is unable to settle by this date, the purchaser can sue for specific performance or cancel the agreement, with penalty interest being owed from the original settlement date to the date of repayment.
Asset Plus believes the matter can be rectified within the stipulated 12-working day period and will continue to update the market accordingly.
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