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Stock Market & Financial Investment News

News Breaks
June 11, 2014
17:06 EDTAXRAMREP reaches comprehensive settlement with Heinrich Bauer
AMREP and its indirect subsidiaries, Kable Distribution Services and Palm Coast Data have entered into a comprehensive settlement agreement with Heinrich Bauer (USA) which resolves all matters relating to the two distribution agreements between Kable Distribution and Bauer that will terminate on June 30. AMREP has agreed to issue to Bauer 825K shares of its common stock, which represents approximately 10.3% of the outstanding shares of common stock of AMREP following such issuance, with Bauer agreeing to not sell or transfer such shares for a period of six months. In return, Bauer has extended the term of its fulfillment agreement with Palm Coast to at least December 31, 2018 and released all claims, except for certain continuing obligations, that Bauer may have against Kable Distribution, Palm Coast and AMREP.
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September 9, 2014
16:24 EDTAXRAMREP enters into oil, gas lease
AMREP reported that its indirect subsidiaries, AMREP Southwest and Outer Rim Investments have entered into an Oil and Gas Lease with Thrust Energy, in which AMREP Southwest leased to Lessee all minerals and mineral rights in and under approximately 55,000 surface acres of land in Sandoval County, New Mexico for the purpose of exploring for, developing, producing and marketing oil and gas. In consideration for entering into the lease, AMREP Southwest received approximately $1M as a lease bonus payment and, if any oil and gas is produced from the leased premises, AMREP Southwest will receive 1/7th of the gross proceeds from the sale of such oil and gas less any expenses to place the oil and gas in marketable condition after it is brought to the surface.

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