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CENTURIA OFFICE REIT — Capital/Financing Update 2019
Oct 10, 2019
64683_rns_2019-10-10_a940a02c-31f7-47b6-9baa-f77e0b1f04bf.pdf
Capital/Financing Update
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Successful completion of Entitlement Offer
Not for release to U.S. wire services or distribution in the United States
Friday 11 October 2019
Centuria Property Funds Limited ( CPFL ), as Responsible Entity for the Centuria Metropolitan REIT ( CMA ), is pleased to announce the successful completion of the accelerated non-renounceable entitlement offer ( Entitlement Offer ) announced on 18 September 2019.
The retail component of the entitlement offer ( Retail Entitlement Offer ) closed on 8 October 2019 raising approximately $37 million. This follows the successful completion of the institutional placement which raised $141 million, and the institutional component of the Entitlement Offer which raised approximately $65 million, providing a total equity raising of $243 million so far ( Equity Raising ). The Equity Raising also comprises a conditional placement of $30 million to Centuria Capital Group ( CNI ), which is subject to CMA securityholder approval ( Conditional Placement ).
Under the Retail Entitlement Offer, eligible retail securityholders were able to apply for their entitlement as well as additional new securities beyond their entitlement up to a maximum of 50% of their entitlement ( Additional Securities ). Eligible retail unitholders took up approximately $25.6 million (including applications for Additional Securities and applications by retail unitholders who applied early and were allotted new securities on the same day as securities were allotted under the institutional component of the Entitlement Offer), representing a participation rate of approximately 69%. The remaining $11.4 million will be allocated to various institutional investors who sub-underwrote the Retail Entitlement Offer.
Application monies received for Additional Securities above 50% of an eligible retail securityholder's entitlement will not be accepted. Application monies received in respect of Additional Securities that are not allocated will be refunded.
Final settlement of Retail Entitlement Offer will take place on 14 October 2019. Allotment of new securities issued under the Retail Entitlement Offer will occur on 15 October 2019 with trading to commence on the ASX on a normal settlement basis on 16 October 2019. Holding statements will be despatched on 17 October 2019.
The Equity Raising was underwritten[1] by Moelis Australia and UBS AG, Australia Branch. HWL Ebsworth acted as Legal Advisor to CPFL in relation to the Equity Raising.
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1 The Equity Raising is underwritten other than in respect of the Conditional Placement
Centuria Property Funds Limited ABN 11 086 553 639 | AFSL 231 149
Level 41, Chifley Tower T: 02 8923 8923 E: [email protected] 2 Chifley Square, Sydney NSW 2000 F: 02 9460 2960 www.centuria.com.au
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For more information or to arrange an interview, please contact:
| Grant Nichols | Tim Mitchell |
|---|---|
| Fund Manager – CMA | Group Head of Investor Relations |
| Centuria Metropolitan REIT | Centuria Capital Limited |
| Phone: 02 8923 8923 | Phone: 02 8923 8923 |
| Email: [email protected] | Email: [email protected] |
About Centuria Metropolitan REIT
CMA is Australia’s largest ASX listed pure play office REIT and is included in the S&P/ASX300 Index. CMA owns a portfolio of high quality metropolitan office assets situated in core metropolitan submarkets throughout Australia. CMA is overseen by a hands on, active manager and provides investors with income and the opportunity for capital growth from a pure play portfolio of high-quality Australian office assets.
Centuria Property Funds Limited (CPFL) is the Responsible Entity for the ASX listed Centuria Metropolitan REIT (CMA). CPFL is a wholly owned subsidiary of Centuria Capital Group (CNI). CNI is an ASX-listed specialist investment manager with $6.6 billion[2] in total assets under management and offers a range of investment opportunities including listed and unlisted property funds as well as tax-effective investment bonds.
www.centuria.com.au
Summary Information
The following disclaimer applies to this announcement and any information contained in it (the Information). The Information in this announcement is of general background and does not purport to be complete. It should be read in conjunction with CMA's other periodic and continuous disclosure announcements lodged with ASX Limited, which are available at www.asx.com.au. You are advised to read this disclaimer carefully before reading or making any other use of this announcement or any Information contained in this announcement. In accepting this announcement, you agree to be bound by the following terms and conditions including any modifications to them.
Forward Looking Statements
This announcement may include forward-looking statements. These forward-looking statements are based on CMA’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of CMA, which could cause actual results to differ materially from such statements. CMA makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of this announcement.
Not for release to U.S. wire services or distribution in the United States
This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.
2 As at 8 October 2019, assuming completion of 348 Edward St, Centuria Metropolitan REIT's transactions
Centuria Property Funds Limited ABN 11 086 553 639 | AFSL 231 149
Level 41, Chifley Tower 2 Chifley Square, Sydney NSW 2000
T: 02 8923 8923 E: [email protected] F: 02 9460 2960 www.centuria.com.au