HT&E have signed a conditional agreement for the potential sale of their shares in Luxury Escapes.

Austus Asset Management (AVC) has agreed with various shareholders to purchase their shares in Luxury Escapes and the agreement with HT & E is conditional on various matters, including AVC raising a minimum of $60M in funding over the next 75 days.

The portion of shares to be purchased also depends on the number of shareholders who participate in the sale.

If the purchase goes ahead, HT&E would receive up to $23.2M.