AI assistant
ASPEN GROUP — Capital/Financing Update 2012
Dec 18, 2012
64404_rns_2012-12-18_ce600b2c-64c2-4e95-8200-ca3a7802381f.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [198 x 79] intentionally omitted <==
==> picture [181 x 118] intentionally omitted <==
----- Start of picture text ----- Aspen Group LimitedABN 50 004 160 927Aspen Property TrustARSN 104 807 767Level 3, Newspaper House129 St Georges Terrace, PerthWestern Australia, 6000Telephone: 08 9220 8400Facsimile: 08 9220 8401Email: [email protected]----- End of picture text -----
ASX ANNOUNCEMENT 19 December 2012
67,205 SQM LEASE SECURED - SPEARWOOD INDUSTRIAL ESTATE
Aspen Group is pleased to announce that Australian Wool Handlers (AWH) has signed a seven year lease for 67,205 square metres of warehouse and hardstand, extending their tenure to 29 June 2020.
Commenting on the lease, Aspen Interim CEO Hugh Martin said:
“Spearwood Industrial Estate is one of Australia’s largest industrial estates with over 200,000 square metres of industrial space. We are delighted that AWH has chosen to remain with Aspen, having entered a lease extension on normal market terms and conditions, which is in line with our earnings forecast.”
“As part of the transaction AWH have agreed to construct approximately 15,275 square metres of hardstand, to convert vacant land into usable space, effectively increasing the size of their tenancy by almost 30%.”
This lease sees Aspen’s weighted average lease expiry across its entire portfolio increase to 4.37 years effective at 31 December 2012. The weighted lease duration for bank covenant purposes increases to 2.13 years compared to 1.25 years obligation under the covenant currently[1] .
End
For further information please contact:
Hugh Martin Brett Fullarton Interim Chief Executive Officer Chief Financial Officer Phone: (+61) 8 9220 8400 Phone: (+61) 8 9220 8400 Email [email protected] Email [email protected]
For media enquiries:
David Tasker Professional Public Relations Phone: (+61) 8 9388 0944 Mobile: (+61) 433 112 936 Email: [email protected]
1 Covenant increases to 2.0 years from and including 30 June 2013
Aspen Group ASX Announcement 19 December 2012