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CENTURIA INDUSTRIAL REIT — M&A Activity 2015
Oct 12, 2015
64654_rns_2015-10-12_a1dbc3a4-f377-4bc6-a6d3-47fd7005e169.pdf
M&A Activity
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ASX Release | Media Release
360 Capital Industrial Fund
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13 October 2015
360 Capital Investment Management Limited as responsible entity for the 360 Capital Industrial Fund - Off-market takeover bid for Australian Industrial REIT automatic extension of Offer Period
360 Capital Investment Management Limited ( 360 Capital ) as responsible entity for the 360 Capital Industrial Fund ( Bidder or TIX ) refers to the off-market takeover bid ( TIX Offer ) which it has made for all the units in Australian Industrial REIT ( ANI ).
TIX announces that as at 12 October 2015 it had received acceptances under the TIX Offer giving it voting power in ANI of 74.89%. These acceptances will be entitled to the TIX September quarter distribution.
As a consequence of TIX's voting power in ANI increasing to more than 50% during the last 7 days of Offer Period for the TIX Offer, the Offer Period has been automatically extended under section 624(2) of the Corporations Act 2001 (Cth), such that it will now close at 5.00pm on 26 October 2015 (unless further extended).
If acceptances reach 90%, TIX will compulsory acquire the remaining ANI units outstanding and delist ANI from the ASX.
More information on the TIX Offer can be found on the ASX’s website at www.asx.com.au using the Fund’s ASX code “TIX”, on the Fund’s website www.360capital.com.au, or by calling the TIX Offer Information Line on 1800 247 697 (callers in Australia) or +61 2 8024 1189 (callers outside Australia) between 8.30am and 5.30pm (Sydney time) on Business Days.
| Tony Pitt | Ben James |
|---|---|
| Managing Director | Chief Investment Officer |
| 360 Capital Group | 360 Capital Group |
| +61 2 8405 8865 | +61 2 8405 8871 |
About 360 Capital Industrial Fund (ASX code TIX)
360 Capital Industrial Fund is an ASX-listed Fund focused on passive rent collecting from warehouse and logistics properties in Australia in the $10.0 million plus range. The Fund has strong, defensive, income-focused investment fundamentals via a diversified $544 million portfolio of 22 quality assets, a weighted average lease expiry of 5.3 years, occupancy of 99.7% and a forecast FY16 distribution of 21.5cpu. The Fund is externally managed by 360 Capital Group, a leading ASX-listed real estate investor and fund manager that operates under a transparent fee structure and is the largest unitholder in the Fund to ensure ongoing alignment of interests with Unitholders.
About 360 Capital Group (ASX code TGP)
360 Capital Group is an ASX-listed, property investment and funds management group concentrating on strategic investment and active investment management of property assets. The company actively invests in direct property assets, property securities and various corporate real estate acquisitions within Australian real estate markets on a private equity basis. 360 Capital Group’s 18 full time staff have significant property, funds and investment management experience. 360 Capital Group manages nine investment vehicles holding assets valued at over $1.2 billion on behalf of over 10,500 investors and has over $193 million worth of co-investments across the 360 Capital Group.
Level 8, 56 Pitt Street Sydney NSW 2000 | T +61 2 8405 8860 | Fax +61 2 9238 0354 | E [email protected] | W www.360capital.com.au 360 Capital Investment Management Limited ABN 38 133 363 185 AFSL 340 304 as responsible entity of the 360 Capital Industrial Fund ARSN 099 680 252