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ASPEN GROUP — Capital/Financing Update 2016
May 8, 2016
64404_rns_2016-05-08_c5bc581f-01b5-48b1-9dad-e86925ee6dd5.pdf
Capital/Financing Update
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Aspen Group Limited ABN 50 004 160 927 Aspen Property Trust ARSN 104 807 767 Level 18, 9 Hunter Street Sydney NSW 2000 Telephone: 02 9151 7500 Facsimile: 02 9151 7599 Email: [email protected]
MARKET RELEASE
ASX ANNOUNCEMENT 9 May 2016
Mill Hill Capital proposal
Aspen Group (ASX: APZ) refers to its announcement of 19 April 2016 updating the status of the unsolicited proposal from Mill Hill Capital (MHC Proposal). Discussions have proceeded since that time but no agreement on the terms to acquire the assets was reached. As a result, discussions between the parties are now at an end and Aspen Group will not be proceeding with the MHC Proposal.
Aspen will now initiate its previously announced on-market buyback of up to 10% of its securities on issue.
Aspen Group has provided distribution guidance for 2H FY16 of 4.6 cents per security.
Aspen Group continues with its acquisition programme in the accommodation sector. Aspen Group has decided not to proceed with the acquisition of one asset previously announced to be in exclusive due diligence; the other remains in due diligence along with the previously announced expansion opportunity at Mandurah Gardens Estate.
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For further information please contact: For media enquiries: Frank Zipfinger David Tasker Independent Non-executive Chairman Professional Public Relations Phone: (+61) 2 9151 7500 Phone: (+61) 8 9388 0944 Email: [email protected] Mobile: (+61) 433 112 936 Email: [email protected]
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