The Board on Sept. 11, 2003 approved the extension of the Sale Agreement between Rios Hotel Management Ltd. and the Company, for purchase of the resort, to December 31, 2003, the intent being that all the obligation should have been performed by the 30th instant pursuant to the said Agreement. The company had noted in its 2002 annual report that under the terms of an agreement dated Dec. 15, 2000, Rios had an option to buy the resort for US$17.5 million during the three-year sub-lease period ending August 31, 2003.
Ciboney Group. Ltd. – Acquisition
- November 12, 2003
- 12:00 am
