RE: Loan completion24 Sep 2018 14:12
Re reading the strategic update rns this bit caught my eye.
The loan will be secured by a guarantee from Comarco group companies. Should the loan not be repaid, AAA will also have the right, for no further consideration, to exercise an option to acquire 100% of a wholly owned Comarco subsidiary called Touchwood Investments Ltd (“Touchwood”).
Touchwood’s major asset is a 4.75-acre strip of land at the Comarco port in Mombasa, Kenya, which a recognised global real estate consultant has recently valued at US$12 million. Amongst Comarco’s existing client base of Marubeni, Halliburton and ENI, amongst others, Touchwood has recently signed an agreement with a large international trading and transportation group focused on liquefied petroleum gas (“LPG”), whereby an LPG import and distribution facility will be constructed on the Touchwood property.
12 million USD value on just one strip of land at the comarco port site . Plus the lpg distribution deal .. Gives us a taste of the possible value of the infrastructure and assets of the comarco group .