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13.09.2002 Full Year Report for the period ended 30 June 2002 |
The Company has released its unaudited preliminary full year results to the New Zealand Stock Exchange today.
In the 2002 financial year the group had negligible operating revenue ($17,789) and, after capitalising appropriate development costs, recorded an Operating Deficit of $139,416.
Since 30th June 2002, the Company has secured its tenth pre-sale in the Escarpments development, bringing the total sales value of pre-sales to $5,176,513.
The Company is currently finalising loan facilities totalling $8.3 million to fund the first stage of construction, and an initial drawdown under these facilities is confidently anticipated no later than Friday 20th September 2002.
The Annual General Meeting of the Company is scheduled for Friday 29th November 2002 at the Mercure Hotel, Customs Street East, Auckland at 10.00am.
The full text of the report is available on the NZSE website www.nzse.co.nz.
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