Asset Plus Limited — Capital/Financing Update 2020

Aug 18, 2020

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NZX RELEASE

19 August 2020

Graham Street lease extension – condition satisfied

On 22 July 2020, Asset Plus (NZX: APL) announced entry into a conditional Deed of Lease for the basement and ground floor of 35 Graham Street with Auckland Council for a fixed term from 28 June 2021 to 28 December 2021. The lease was conditional upon Auckland Council’s insurer’s approval to the lease by 19 August 2020.

Asset Plus is please to confirm that the above condition has now been satisfied and the Deed of Lease with Auckland Council is now unconditional.

As noted in the 22 July 2020 announcement, the lease provides fixed additional income of $1 million, plus a proportionate share of outgoings for Asset Plus, whilst preserving the ability to undertake soft strip-out, investigative works, and internal refurbishment across the balance of the property during the extended lease period.

-ENDS-

For further information contact:

Mark Francis Managing Director, Augusta Funds Management Limited, Manager of Asset Plus 09 300 6161

Stephen Brown-Thomas, Asset Plus and Development Manager, Augusta Funds Management Limited, Manager of Asset Plus 09 300 6161

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