18th Mar 2008 09:11
NETeller PLC18 March 2008 NETELLER Plc Sale of Calgary property - update (Monday, 17) March 2008 - NETELLER Plc (LSE: NLR), the independent global onlinepayments business, announces the following update in relation to the sale of theGroup's principal property in Calgary, Canada. The Group has been made aware that due to circumstances beyond its control therewill be a delay of one month in the closing of the sale by its subsidiary, NTServices Building Corp., of its principal property in Calgary, Canada, to LebenInvestment Corporation. Under a revised sale agreement, signed on 14 March 2007, the Group will nowreceive an additional non-refundable deposit of $1 million on or before 20 March2007, bringing the total non-refundable deposit to C$1.3 million (approximatelyUS$ 1.3 million). This deposit will apply to the purchase price of C$33.5million (approximately US$ 33.5 million) upon closing. In accordance with theterms of the revised sale agreement, the sale proceeds will now be paid to theGroup on 30 April 2008 instead of 31 March 2008 as previously announced. Under the revised sale agreement, the Group will not be required to pay rent forthe month of April 2008 pending closing of the sale. Enquiries: Andrew Gilchrist + 44 (0) 1624 698 713VP 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 consumers 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. Through its NETELLER, NETBANX, and 1-Paybrands, the Group specialises in providing innovative and instant paymentservices where money transfer is difficult or risky due to identity, trust,currency exchange, or distance. Being independent has allowed the Group tosupport thousands of retailers and merchants in many geographies and acrossmultiple industries. NETELLER Plc is quoted on the London Stock Exchange's AIM market, with a tickersymbol of NLR. NETELLER (UK) Limited is authorised by the Financial ServicesAuthority (FSA) to operate as a regulated e-money issuer. For more informationabout the Group visit www.netellergroup.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Paysafe Group