Willdale shareholders approve land sale

At an Extraordinary General Meeting held at the company's Mount Hampden head office, shareholders of Willdale Limited unanimously approved the proposed sale of 190.1 hectares of land to raise funds aimed at reducing the brick-maker's debt burden.

The company will look to raise more than US$4 million to retire expensive debt from its books and thus restructure its balance sheet.

Intellego Advisory were the financial advisors in this restructuring exercise.