Following the completion of the share subscription, COI(II)PL and Centurion Properties Australia Investments (CPAI), a wholly-owned subsidiary of the group, will hold 25% and 75% of LAD respectively.
Centurion Corporation's indirect wholly-owned subsidiary, Centurion Overseas Investments (II) (COI(II)PL), has entered into a subscription and shareholders agreement with Lachlan Avenue Development (LAD), according to an Oct 15 release.
Under the agreement, the group is set to subscribe for 2.5 million shares, representing a 25% equity interest in LAD, for a purchase consideration of A$2.5 million ($2.19 million).
