Brief: Duxton Water Says Treasury Wine Estates Exercises Call Option To Acquire NSW Water Entitlements

Rivco Australia

05/04/2024 08:12

April 5 (Reuters) - Treasury Wine Estates Ltd  TWE.AX :
    * DUXTON WATER LTD - TREASURY WINE ESTATES EXERCISES CALL
OPTION
TO ACQUIRE NSW WATER ENTITLEMENTS FROM DUXTON WATER LIMITED
    * TWE EXERCISES CALL OPTION TO ACQUIRE NSW WATER
ENTITLEMENTS,TWE
    * RECEIVED FORMAL NOTICE FROM TWE THAT IT IS EXERCISING ITS
CALL
OPTION
    * PROCEEDS FROM THE SALE ARE EXPECTED TO  INITIALLY BE USED
TO
OFFSET AGAINST THE CO’S DEBT FACILITIES
    * CALL OPTION TO BUY BACK 2,799 MEGALITRES OF NSW HIGH
SECURITY
WATER ENTITLEMENTS FROM CODEL1
    * LEASE TO TWE IN RELATION TO NSW WATER ENTITLEMENTS
TERMINATES
    * EXPECTS USE FUNDS TO ACQUIRE ADDITIONAL WATER ENTITLEMENTS

Further company coverage:  TWE.AX