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CROMWELL PROPERTY GROUP — Capital/Financing Update 2013
Feb 7, 2013
64673_rns_2013-02-07_034f0496-45a8-41b5-8c27-d7991ec92df2.pdf
Capital/Financing Update
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ASX Announcement
8 February 2013
CROMWELL CLOSES SPP OVERSUBSCRIBED
On Tuesday 5 February 2013, Cromwell Property Group’s Security Purchase Plan (SPP), as announced on Friday 7 December, 2012, closed oversubscribed, with approximately $50 million of applications being received.
Cromwell has elected to accept applications totalling approximately $40 million. As a result, securityholders who participated in the SPP will have their applications scaled back by 20%, for example, securityholders who applied for $15,000 worth of securities will receive securities worth $12,000.
Cromwell CEO Paul Weightman said the level of support received from both institutional and retail securityholders was a strong endorsement of the Group’s current strategy.
“We remain committed to building long term value for securityholders through the identification and acquisition of assets which provide stable returns and have the potential for capital growth. The funds provided through this capital raising leave us well positioned to execute these opportunities as they arise.”
Securities are expected to be allotted on Friday 8 February 2013. Transaction confirmation statements and refund advices and payment are expected to be sent on or about Thursday 14 February 2013.
ENDS
Media Enquiries: Paul Weightman Managing Director/CEO (Cromwell) +61 411 111 028 [email protected]
Cromwell Securityholder Enquiries:
Investor Services Centre 1300 276 693 +61 7 3225 7777 (worldwide) [email protected]
Cromwell Property Group (ASX:CMW) comprising Cromwell Corporation Limited (ABN 44 001 056 980) and Cromwell Property Securities Limited (ABN 11 079 147 809 AFSL 238052) as responsible entity for Cromwell Diversified Property Trust (ABN 30 074 537 051 ARSN 102 982 598). Further information and media releases can be found at the Cromwell website: www.cromwell.com.au