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Raptis Group Limited (ASX:RPG)

ALERT: Price-sensitive ASX Announcement for RPG
Current share price for RPG : $0.096 -0.069 (-41.82%)+
Announcement
Release
4 Aug 2025 8:17AM
Price at Release
$0.165
Full Release
download
Summary
On 29 November 2007, Raptis Group Limited (RPG) announced it has executed a Second Revenue Agreement with interests associated with its major shareholder James Raptis. This agreement supersedes a prior arrangement covering the repayment of an outstanding loan owed by RPG to James Raptis and his associates. The new terms specify that repayments will now be made as a percentage of net revenues from certain major RPG property developments, with the entitlement percentage being reduced compared to the original agreement. The Second Revenue Agreement has been reviewed and approved by RPG’s independent directors, deemed to be on arm’s length terms, and is considered in shareholders’ best interests. Its provisions will continue until the loan has been fully repaid, and the transaction details have been disclosed in compliance with relevant ASX listing rules.
Key Points
  • Raptis Group Limited (RPG) announced the execution of a Second Revenue Agreement with interests associated with James Raptis.
  • The agreement relates to the repayment of an outstanding loan owed by Raptis Group Limited to James Raptis and associates.
  • The Second Revenue Agreement replaces and supersedes the original Revenue Agreement dated 8 December 2005.
  • Under the new agreement, repayments to James Raptis and associates will be based on a percentage of net revenues from specific Raptis Group Limited property developments, including the Hilton Surfers Paradise and Southport Central projects.
  • The percentage entitlement under the Second Revenue Agreement has been reduced compared to the original agreement.
  • The agreement has been reviewed and approved by the independent directors of Raptis Group Limited.
  • The agreement is considered to be on arm's length terms and in the best interests of shareholders.
  • The Second Revenue Agreement will remain in force until the outstanding loan amount has been fully repaid.
  • The announcement includes disclosure of related party transactions pursuant to ASX Listing Rule requirements.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.