DW8 Limited provided an update regarding the purchase, sale and leaseback of its NDC with the signing of binding agreements that will generate a one-off cash profit to DW8 of $3.5 million, net of costs. As part of the leaseback agreement the new property owners have also agreed to purchase the temperature control systems recently installed in the NDC and lease these back to WINEDEPOT. This is expected to release a further $1.1 million of previously invested capital. Together these two transaction elements will generate a significant cash injection for the Company. As previously disclosed, as part of its national logistics network, WINEDEPOT leases a 7,250 sqm warehouse in Barnawartha, Victoria, located on a 40,000 sqm site on the outskirts of Albury- Wodonga which it uses as its NDC. The NDC is strategically positioned to service the east coast market where WINEDEPOT has established a strong presence, allowing next day delivery to 85% of Australia's population. The potential for this transaction to occur was first announced to shareholders on 29 October 2021. Under the existing lease agreement, WINEDEPOT had negotiated an option to purchase the NDC from the current owner. Over the last 12 months there has been a significant increase in demand for property suitable for 3PL warehousing operations. This in turn has led to an increase in industrial property values. Recognising the potential to strengthen WINEDEPOT's competitive position and balance sheet by generating a one-off cash profit, the Company exercised its option to purchase the NDC and then sold it alongside a new long-term leaseback agreement. The Company used a sales campaign to identify a property owner with the appetite, experience and capability to expand the NDC to cater for WINEDEPOT's future growth requirements. Settlement is expected to occur in early February 2022. The Purchaser is Albertson CT Pty Ltd. as trustee for the Ascot Capital Albertson Property Trust. The Company is required to pay the current owner of the Site an upfront deposit of $68,000 and the balance of the purchase price of $6.732m at settlement. Settlement is scheduled to occur on or about 7 February 2022 ("Settlement Date"). The Purchaser is required to pay the Company an upfront deposit of $1.060m and the balance of the purchase price of $9.540m at settlement. The on-sale of the NDC to the Purchaser is subject to and conditional upon the contemporaneous completion of the purchase of the NDC by the Company from the current owner on the Settlement Date. The Company cautions that the agreement for the purchase of the NDC from the current owner is not subject to and conditional upon the contemporaneous completion of the on-sale of the NDC to the Purchaser. There is therefore a risk that the initial sale of the NDC from the current owner to the Company completes, and the subsequent on-sale from the Company to the Purchaser does not complete.