11th Feb 2008 09:13
NETeller PLC11 February 2008 NETELLER Plc Sale of Calgary property completed for C$33.5 million Monday, 11 February 2008 - NETELLER Plc (LSE: NLR), the independent globalonline payments business, is pleased to announce the sale of the Group'sprincipal property in Calgary, Canada. The Group confirms that its subsidiary, NT Services Building Corp., hascompleted the sale of its principal property at 27th Avenue in Calgary, Canada,to the Leben Investment Corporation for a total consideration of C$33.5 million(approximately US$ 33.5 million). In accordance with the terms of the saleagreement, the sale proceeds will be paid to the Group on 31 March 2008. The Group will continue to lease two areas of the property from Leben InvestmentCorporation on usual commercial terms for a period of three years and five yearsrespectively following the sale. The sale price is very close to the net bookvalue of the property and as a result there will likely be no significant gainsor losses on disposal. Any marginal gains or losses that may arise will bereflected in the Group's 2008 results. Enquiries: Andrew Gilchrist + 44 (0) 7824 385 829VP Communications, NETELLER Plc Daniel Stewart & Co Plc + 44 (0) 207 776 6550Paul Shackleton Citigate Dewe Rogerson + 44 (0) 207 638 9571Sarah Gestetner / Seb Hoyle / George Cazenove Notes to Editors About the NETELLER Group Trusted by customers and merchants in over 160 countries to move and managebillions of dollars each year, the NETELLER Group operates the world's leadingindependent online payments business. The Group specialises in providinginnovative and instant payment services where money transfer is difficult orrisky due to identity, trust, currency exchange or distance. Being independenthas allowed the Group to support thousands of retailers and merchants in manygeographies and across multiple industries. NETELLER Plc is quoted on the London Stock Exchange's AIM market, with a tickersymbol of NLR. NETELLER (UK) Limited is authorised and regulated by theFinancial Services Authority (FSA) to operate as a regulated e-money issuer. Formore information about the Group visit www.netellergroup.com. About Leben Investment Corporation The Leben Investment Corporation is a Calgary based property investment company.Its property holdings are held through Leben Real Estate Investment Trust(REIT), a private open-ended investment trust formed to maximize the investmentvalue of real estate assets for investors. The Leben REIT has made teninvestments to date in Alberta properties with eight commercial/officeproperties in Calgary and a further two in Edmonton. For further information,please contact Shariff Chandran (Investor Relations) at 1 (877) 209 0959 or [email protected] or visit www.lebenreit.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Paysafe Group