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CENTURIA CAPITAL GROUP — Capital/Financing Update 2012
Dec 4, 2012
64677_rns_2012-12-04_835e676d-e200-4392-a0ce-177f03e6de7f.pdf
Capital/Financing Update
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5 December 2012
Australian Securities Exchange
Company Announcements Platform
Centuria Capital - Market Update
Completion of Sale of Legacy Investment Properties;
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Moonah Links, Fingal
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Pepper Sands Resort, Torquay
The above Victorian golf course accommodation assets were acquired during the 2006 (Moonah) and 2008 (Torquay) financial periods and have been held on balance sheet since their acquisition.
Current management has for some time considered the assets to be non–core as they do not fit Centuria’s pure funds management strategy.
In the 2012 Annual Report we advised that Centuria had entered into a sale agreement in respect of both assets for a consideration of $15.1 million and we are pleased to report that this agreement was completed and settled today.
The non-recourse debt facility relating to these assets has also been fully satisfied out of the proceeds of sale such that the transaction will have a nil impact on Centuria Capital’s net assets.
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For more information or to arrange an interview, please contact:
John McBain Alicia Eu Chief Executive Officer Account Assistant Centuria Capital Limited BlueChip Communication Phone: 02 8923 8923 / 0417 868 869 Phone: 02 9018 8603/ 0412 552 004 Email: [email protected] Email: [email protected]
About Us
Centuria Property Funds has over $1 billion of property under management in 29 unlisted property funds. In addition Centuria has completed 19 property funds with a combined value of $341 million. Centuria Property Funds is a wholly-owned subsidiary of Centuria Capital Limited, an ASX-listed diversified funds manager with $2 billion in funds under management. ASX Stock Code CNI. www.centuria.com.au
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