Brief: Veritas Investments updates on banking facility agreement

Good Spirits Hospitality

14/12/2016 04:04

Dec 14 (Reuters) - Veritas Investments Ltd  VIL.NZ : 
    * Revised anz facility agreement contains a number of 
undertakings and milestones for group 
    * veritas is also required to close and wind down nosh by 31 
march 2017, if it cannot be sold by that date 
    * Has entered into a committed term sheet with anz in 
relation to group's banking facilities 
    * "board cannot be certain that a sale of nosh can be agreed 
by that date" 
    * sale or closure of loss-making nosh business would result 
in non-cash asset write-downs and one-off expenditure 
 
Source text for Eikon:  ID:nNZW9TVFdj  
Further company coverage:  VIL.NZ  
 
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