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ASPEN GROUP — Capital/Financing Update 2017
Aug 13, 2017
64404_rns_2017-08-13_9aed5814-ff88-45ca-9312-8e3bef533758.pdf
Capital/Financing Update
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Aspen Group Limited ABN 50 004 160 927 Aspen Property Trust ARSN 104 807 767 Level 3, 37 Pitt Street Sydney NSW 2000 Telephone: 02 9151 7500 Facsimile: 02 9151 7599 Email: [email protected]
ASX ANNOUNCEMENT 14 August 2017
Spearwood South – Capital Gain and Possible Capital Return
As announced on 29 June 2017, Aspen Group Limited (ASX: APZ) has entered into an agreement for the sale of its Spearwood South industrial property located in Perth.
The sale process will result in a capital gain of approximately $12 million which will be taxable in the hands of securityholders for the financial year ending 30 June 2017. The gain is expected to provide a commensurate increase in the cost base of a security holder’s APZ securities which shall be detailed in the tax statement.
The Board is considering a capital return in the form of a special distribution as a result of this capital gain. This is not expected to be taxable in the hands of securityholders but will result in a commensurate reduction in the cost base of a security holder’s APZ securities. We will advise security holders of details regarding this decision as soon as is practical. While there is no guarantee that a capital return will proceed, if it does, it would result in a consequent reduction in the quantum of the maximum number of securities advised in the buyback announcement on 31 March 2017.
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For further information, please contact: Joel Cann Emmanuel Zammit Chief Executive Officer Chief Financial Officer Phone: (+61) 2 9151 7500 Phone: (+61) 2 9151 7500 Email: [email protected] Email: [email protected]