Final Head Office Building Refund Received
Sydney, Dec 28, 2016 AEST (ABN Newswire) - Traditional Therapy Clinics Limited (
ASX:TTC) is pleased to advise that it has received the fourth and final instalment of the head office building refund of RMB51.2 million from the building developer. Since cancellation of the original head office development contract, the Company has structured a four-instalment repayment programme with the developer for the refund of RMB128 million previously paid by the Company. The Company can now confirm all of the RMB128 million has been received.
About Traditional Therapy Clinics Ltd
Traditional Therapy Clinics Limited (ASX:TTC) is a franchisor and the owner of one of the largest chains (by number of clinics) of traditional therapeutic health and wellness clinics in China. It currently has 343 franchised clinics and 35 owned clinics in operation. It is a well established business with a strong growth profile, employing a repeatable and scalable business model.
TTC has a highly recognised and respected brand, having received the prestigious Chinese Well-Known Trademark designation from the State Administration for Industry and Commerce. It operates within a strongly regulated industry sector of significant scale, which offers opportunity for further growth.
TTC is an ASX listed company employing around 1,000 staff across 27 of the 33 administrative divisions in China. More information is available at https://www.ttc-ltd.com/
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