NETELLER Wraps Up Calgary Sale
By Staff
Isle of Man-based e-cash processor NETELLER has signed a revised agreement for the sale of its Calgary property to Leben Investment Corporation with the closing date now set for the end of June.

The revision will allow Neteller to collect two further non-refundable stage payments in addition to the $1.29 million deposit it had already received.

Ron Martin, Chief Executive Officer for NETELLER, stated that the revised sale agreement was in the best interests of the company as it allows it to minimising lease costs on vacant space.

“This agreement marks the successful conclusion of a lengthy process of negotiations with Leben Investment Corporation and the board is pleased with the outcome,” said Martin.

“The revised closing date of June 30, 2008 allows the group a period during which it can maximise its return from under-utilised space in the property prior to its sale.”

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