CHEVIOT KIRRIBILLY VINEYARD PROPERTY GROUP (ASX.CKP)

name changed to Cheviot Kirribilly Vineyard Property Limited

the deadline for unitholders of CKP Trust to call a meeting to discuss the winding up of the trust passed with no requisition for such a meeting being received. As a consequence, the Directors of CKPRE Limited and CKP Company are now proceeding to unstaple CKP Trust units and CKP Company shares, and retain the listing of CKP Company shares on ASX

CKP is comprised of a stapled unit trust - Cheviot Kirribilly Vineyard Property Trust (CKP Trust) and company - Cheviot Kirribilly Vineyard Property Limited (CKP Company) - the responsible entity of CKP Trust has today issued to CKP Trust unitholders a formal notice of the proposed winding up of CKP Trust

The boards of the Cheviot Kirribilly Vineyard Property Group (CKP or the Group) (with Andrew Brown absenting himself) have today consented to the sale of the responsible entity for Cheviot Kirribilly Vineyard Property Trust (CKP Trust) and the asset manager for CKP

company has reached accommodation with its financiers to continue to proceed with the 2012 vintage for the two remaining vineyards in the Clare Valley

On Monday 9 January 2012, Cheviot Kirribilly Vineyard Property Trust (CKP Trust) completed the sale of the Angas Creek Stage 1 and Stage 2 vineyards located in Gumeracha, Adelaide Hills, SA. The gross sale proceeds attributable to CKP Trust were $3,100,000

MLC Investment Ltd sold 2,100,000 Collins Foods Ltd shares on December 28 and 29, 2011, decreasing from 8,981,520 shares (9.66%) to 6,881,520 shares (7.4%)

Cheviot Kirribilly Vineyard Property Trust (CKP Trust) completed the sale of its 50 (of 54) lots at the Birchmores vineyard located on Leslie Road, Langhorne Creek, SA 5255 together with the Woodstock Road vineyard also located in Langhorne Creek - sale of the four minority lotholdings in the Birchmores vineyard was also completed - the gross sale proceeds attributable to CKP Trust were $5,694,373

securityholders of Cheviot Kirribilly Vineyard Property Group ("KP" or "the Group") comprising units of Cheviot Kirribilly Vineyard Property Trust ("KP Trust") and shares in Cheviot Kirribilly Vineyard Property Limited have today approved the sale of the Group's major undertaking

a General Meeting of company will be held in conjunction with a General Meeting of Unitholders of the Trust on Tuesday 6 December 2011 at 1.15pm at the offices of Edwards Marshall, Level 3, 153 Flinders Street, ADELAIDE SA 5000

CKP has, in consultation with its major financier, agreed a program whereby all six of the Group's vineyards are to be marketed for sale. Agency agreements to seek purchasers for the properties are likely to be signed within the next two weeks. The financier has agreed, in principle, to ensure that financial accommodation is available to CKP Group to facilitate the productivity and good standing of the vineyards through the sale process, which is expected to conclude prior to 31 December 2011. The financier has rolled over CKP Group's debt exposures for a further month prior to an expected restructuring of the facilities, which will be subject to specific reporting conditions, and assist in expediting the divestment process

Cheviot Kirribilly responsible entity Tidewater Funds Management Ltd advised the six CKP vineyards vintage calculations have been completed, yielding 4,392 tonnes of saleable grapes. This is the lowest cumulative level of production for the six vineyards since suitable records began in 2003

provides update - the 2011 vintage is roughly 55% complete, but as a result of materially adverse weather conditions in the month of March 2011, succeeding larger than normal rainfall patterns in the first two months of 2011, CKP now expects production levels of just over 5,000 tonnes for the 2011 vintage, around 300 tonnes below that of 2010

the Group yesterday signed agreements with its main financier to ensure that working capital funds are available to harvest the 2011 vintage, expected to be concluded by 31 May 2011. A further assessment by the financier, in tandem with the Group will be made at that time, as to various alternatives in respect of the 2012 vintage. These alternatives may include decisions to retire particular blocks or vineyards, to consider economic returns from alternative land use or to market specific vineyards for sale during 2011. Conditions of the financing include, but are not limited to, a provision of a report by CKP in this respect. Given these required assessments and conditions, the Group is still not in a position to lodge outstanding audited accounts, nor consequentially recommence quotation of CKP securities on ASX

in an update the Group says it has reached understandings with the owners of the three external suppliers - Kirribilly Viticulture (owned by Cheviot Bridge Limited), Tidewater Funds Management and Tidewater Property Management (both owned by Tidewater Investments Limited). These understandings involve the transfer - subject to various conditions, including appropriate finance facilities - of the relevant entities to CKP. No upfront cash consideration would be payable, but various synergy savings would be available to the Group. CKP are currently discussing the terms of the business review with the external bank financier and expect to be in a position to make a further announcement early next week

the 2010 vintage has now been completed, with production of 5,323 tonnes, around 11% below the 2009 levels - CKP, in tandem with its external management companies, is currently assessing a number of strategies with the aim of securing the longer term future of the Group, which will likely require the support of CKP's major bank financier and the approval of securityholders. In line with an agreed timetable, it is hoped that the requisite strategies will be formulated and announced by the end of May 2010

company announces that in-principle agreement has been reached with the major financier to increase the Group's facilities to cover the vintage period, subject to usual banking conditions. The facility will be subject to further review at the conclusion of vintage, expected to be 31 May 2010

the securities of Cheviot Kirribilly Vineyard Property Group (the "Group") will be suspended from quotation immediately, at the request of the Group, pending release of an announcement regarding the outcome of discussions currently being held between the Group and its major financier