Sale of Ontera to Milliken

Following on from the announcement made on 3 August 2015, Cavalier Corporation announces that a conditional asset sale and purchase agreement has been entered into by Ontera (a wholly-owned subsidiary of Cavalier Corporation) with a Milliken subsidiary.

27 August 2015

Following on from the announcement made on 3 August 2015, Cavalier Corporation announces that a conditional asset sale and purchase agreement has been entered into by Ontera (a wholly-owned subsidiary of Cavalier Corporation) with a Milliken subsidiary.

Cavalier Corporation expects the sale to release around $6.5 million towards its debt reduction programme.

Settlement, which is conditional upon selected key employees of Ontera accepting employment with Milliken and the transfer of key contracts and leases to Milliken, is expected to occur within one to two weeks.

 

Paul Alston
Chief Executive Officer
For and on behalf of the Board of Directors

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