Steel & Tube Holdings Ltd said today it had obtained a waiver from its banking partners for the covenant breach arising as a consequence of the signalled non-trading writedowns & impairments on its 2018 financial year earnings.
Steel & Tube
Steel & Tube Holdings Ltd has signed an unconditional agreement to sell its property at 375 Blenheim Rd, Christchurch, for $21.1 million on a sale & leaseback basis.
A joint venture led by property fund manager Oyster Property Group Ltd settled its $209 million purchase of the Central Park Corporate Centre at Ellerslie from the Goodman Property Trust on Friday.
Steel & Tube Holdings Ltd expects to lose $38 million before interest & tax in the financial year ending next month.
Steel & Tube Holdings Ltd shares went into a 24-hour trading halt today to allow the company’s board to consider factors likely to impact on earnings guidance.
Steel & Tube Holdings Ltd has put a Christchurch property on the market as a sale & leaseback, 6 months after a similar $32.6 million deal in Auckland.