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CENTURIA CAPITAL GROUP — Capital/Financing Update 2019
Feb 19, 2019
64677_rns_2019-02-19_1a6578cc-17b4-425f-8121-122fbd303510.pdf
Capital/Financing Update
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Australian Securities Exchange – Company Announcements Platform
Centuria Capital Group
Market Update
Wednesday, 20 February 2019
Centuria Capital Limited “Centuria” notes ESR Real Estate (Australia) Pty Limited’s announcement in relation to its bid for Propertylink Group “PLG” stating it has reached an interest of 74.78% of PLG securities and declaring its offer is now unconditional.
Centuria announced earlier today that its relevant subsidiary had accepted into ESR’s Offer.
ESR’s announcement details its intention to pay the cash consideration for securities on 20 March 2019 to valid PLG securitholders, including Centuria, who accept their offer by 28 February 2019. Centuria’s 19.51% stake in PLG equates to a cash consideration of $137 million and is expected to realise approximately $12 million of profit.
Centuria’s current intention is to actively deploy the proceeds into capital management and strategic initiatives that continue to create value for securityholders, including:
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Retiring short term debt of $40 million
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Settlement of the 111 St Georges Terrace put and call option with 360 Capital Group for $20 million
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Acceleration of growth in the Unlisted Property Funds division
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Continued parent company co-investment support for Centuria Metropolitan REIT (CMA) and Centuria Industrial REIT (CIP)
Centuria will update the market with details regarding the above and further capital management initiatives as they are executed.
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For more information or to arrange an interview, please contact:
John McBain Tim Mitchell Group CEO Group Head of Investor Relations Centuria Capital Limited Centuria Capital Limited Phone: 02 8923 8910 Phone: 02 8923 8923 Email: [email protected] Email: [email protected]
About Centuria Capital Group
Centuria Capital Group (CNI) is an ASX-listed specialist investment manager with $5.6 billion of assets under management. We offer a range of investment opportunities including listed and unlisted property funds as well as tax-effective investment bonds. Our drive, allied with our in-depth knowledge of these sectors and intimate understanding of our clients, allows us to transform opportunities into rewarding investments.
www.centuria.com.au
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