DURBAN – At a Special General Meeting held at Greyville on Monday night, members of Gold Circle voted overwhelmingly in favour of the sale of Clairwood Racecourse to the Capital Property Fund.
The only remaining suspensive condition is clearance from the Competitions Commission but, as the Commission has previously ruled favourably in respect of the sale of Clairwood Racecourse, the Board of Gold Circle does not expect any undue delay in this regard.
In terms of the sale agreement Gold Circle has the right to lease back Clairwood Racecourse for a period of two years from the date of transfer, to enable the necessary additions, alterations and upgrades to be effected to the Greyville and Summerveld properties.
Transfer is expected to be finalised during the final quarter of 2012. – Gold Circle.