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SUBSEQUENT EVENT
6 Months Ended
Jan. 31, 2017
SUBSEQUENT EVENT

(18) SUBSEQUENT EVENT

In February 2017, an Irish subsidiary of the Company signed a memorandum of agreement to sell its building in Kildare, Ireland. The sale price is €3.9 million, and will result in net proceeds of approximately €2.7 million, after subtracting the purchase price of certain property liens, which the Irish subsidiary acquired from an Irish governmental authority in order to remove the liens as part of the sale, and other transaction-related cost. The Irish subsidiary of the Company will continue to occupy a portion of the building as a tenant post-sale. The memorandum of agreement remains subject to execution by the Irish governmental authority and, assuming final execution, will be subject to certain closing conditions, including completion of improvements to the building. Final closing is anticipated to occur by May 2017 after the required tenant improvements are made.