Acquisition of Land at Coorong Quays
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| Stock | Aspen Group (APZ.ASX) |
|---|---|
| Release Time | 16 Dec 2024, 9:18 a.m. |
| Price Sensitive | Yes |
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Aspen Group Acquires Additional Land at Coorong Quays
Key Points
- Aspen Group acquires 1 hectare land lot adjacent to Alexandrina Cove Retirement Village
- Consideration is 521,000 Aspen Group stapled securities valued at $1.28 million
- Intends to seek approval to expand Alexandrina Cove Retirement Village by 25-30 Lifestyle houses
Full Summary
Aspen Group (ASX: APZ) has announced the acquisition of a 1 hectare land lot at Coorong Quays, South Australia, adjacent to its Alexandrina Cove Retirement Village (ACLV). The vendor is a private company associated with Mr. Viv Padman OAM, who requested all-scrip consideration instead of cash. The agreed consideration is 521,000 Aspen Group stapled securities (APZ) with a value of $1.28 million based on the closing price of APZ on ASX on 13 December 2024 of $2.46 per security. Aspen intends to seek approval to use the land to expand ACLV by an additional 25-30 Lifestyle houses. If approved, the consideration would equate to $43-51k per approved site.
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