Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


ICPbio Exits Final APH Group Property Development

June 6, 2006

Media Statement

ICBbio Exits Final APH Group Property Development

Statement made by Dr Earl Stevens, Managing Director,
ICP Biotechnology Limited

ICP Biotechnology is pleased to advise that, through its Australian subsidiaries, late Friday afternoon (in Sydney, Australia) it exchanged contracts for the sale of all its rights, titles and interest in 'The Escarpments' project, Katoomba, NSW, Australia.

Settlement is scheduled to take place on or before 23rd June 2006. Shareholders approved the disposal at the Special Meeting held on 5th May 2006.

Settlement is conditional upon consent to the transactions by the Blue Mountains City Council and execution of a Deed of Settlement and Release between the ICP Biotechnology group, the project lender and joint venture partner prior to settlement.

At the Blue Mountains City Council meeting held 30th May 2006, the council agreed to consent to the proposed assignment subject to finalisation of a few outstanding matters.

Consideration comprising cash and the assumption of liabilities will total approximately NZ$ 18,175,540 subject to timing.

This will bring to an end the property development activities of the former Australasian Property Holdings Group and will enable ICP Biotechnology to fully focus on the rapid expansion of its manufacturing and global marketing of quality biological products for the biotechnology, animal and human pharmaceutical industries.

ICPbio is one of New Zealand's longest established biotechnology companies. It manufactures and markets products for use in animal reproduction, animal health care and the fine biochemicals field. Nearly 100% of its products are exported, primarily to North America and Europe, with increasing amounts to Asia and South America.


© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news