NZ's Cavalier Corp climbs on new deal for sale of Auckland property

Bremworth

15/11/2020 22:18

** Shares of carpet maker Cavalier Corp Ltd  CAV.NZ  rise as
much as 9.23% to N$0.355, their highest since Sept. 30
    ** Says unit terminated contract with Kinleith Land and
Infrastructure Ltd for failure to pay its deposit under deal for
sale of Auckland property  urn:newsml:reuters.com:*:nNZWb08FrJ
    ** Adds that unit also entered into a new sale and purchase
agreement with another third party on terms substantially the
same as the previous agreement
    ** Property sale provides us with additional support and
funding over the next few years -George Adams, chair of Cavalier
    ** Stock posts its biggest intraday percentage gain since
Nov. 4
    

 (Reporting by Shruti Sonal in Bengaluru; Editing by Peter
Cooney)
 ((Shruti.Sonal@thomsonreuters.com; Twitter: @shrutisonal26))