Cyprus Property For Sale - Cyprus Property
WPT May Face $1 Million Penalty for C...
20.08.09
As part of an agreement forged between World Poker Tour Enterprises (WPTE) and Gamynia Limited earlier this month, WPTE officials may be subject to a $1 million penalty should the company call off the sale.
On August 3rd, a filing to the Securities and Exchange Commission (SEC) obtained by Poker News Daily notes, “If Buyer terminates this Agreement… within five (5) Business Days after the date of such termination, Seller shall pay the amount of One Million Dollars (US$1,000,000)… by wire transfer of immediately available funds to one or more accounts specified by Buyer in writing.” As revealed in an SEC filing on Tuesday by WPTE, the company had received an “alternative acquisition proposal.” No details of the second WPTE bid were given, although information should be released in the near future.
If Gamynia Limited were to back out of the deal, it would be subject to the $1 million termination fee. Gamynia
Source: Poker News Daily
Cyprus Property For Sale Fuel
Fuel prices have risen sharply this week. Diesel and petrol have risen 3.4% this week and 16% over the last three months. There is a body called the Commision for the Protection of Competition in Cyprus and they have produced a report targeting the four fuel suppliers and if price fixes have occured illegally or legally. A fine could be imposed upon the fuel companies in due course.
Source: Cyprus Property For Sale Fuel
Source: Cyprus Property For Sale - Cyprus Property