Eildon Capital Limited (ASX:EDC) Updates on Officer Investment
Investment Management Agreement Termination
Eildon Capital Limited (ASX:EDC) has provided an update regarding its investment in the Officer South Landholding Trust, a joint venture established in February 2024. The Group agreed to co-invest 15% of the capital towards the acquisition of a property in Victoria, with settlement planned for February 2028.
Due to the departure of key personnel, the conditions of the investment management agreement (IMA) were triggered, allowing the trustee to terminate the IMA. As a result, the joint venture partners will acquire Eildon’s 15% co-investment at book value, approximately $1.98 million. Completion of this transaction is anticipated in February 2025. Consequently, a contingent liability of $11.06 million will be reversed from the accounts.
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