Brief: Booktopia Group Says It Exits Welbeck Investment

Booktopia

02/12/2022 10:19

Dec 2 (Reuters) - Booktopia Group Ltd  BKG.AX :
    * EXITS WELBECK INVESTMENT
    * SOLD SHARES IN WELBECK PUBLISHING FOR TOTAL CASH
CONSIDERATION
OF ABOUT A$1.5 MILLION
    * AN AUSTRALIAN DISTRIBUTION AGREEMENT BETWEEN BOOKTOPIA AND
WELBECK HAS ALSO BEEN DISSOLVED AS PART OF TRANSACTION
    * FOLLOWING A REVIEW OF BUSINESS EARLIER THIS YEAR, WROTE
DOWN
VALUE OF INVESTMENT BY A$2.2 MILLION
    * RESULTANT GAIN ON DISPOSAL OF INVESTMENT IS EXPECTED TO BE
AROUND A$0.5 MILLION
    * BOOKTOPIA'S 25% INTEREST IN BUSINESS WAS SOLD TO WELBECK
PUBLISHING GROUP LIMITED (UK)

Source text for Eikon:  ID:nASX1jlHpH 
Further company coverage:  BKG.AX 
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