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CROMWELL PROPERTY GROUP — Capital/Financing Update 2021
Dec 15, 2021
64673_rns_2021-12-15_40e1fe9c-b131-498b-89a5-76cef0a46618.pdf
Capital/Financing Update
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ASX Announcement 16 December 2021
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SUSPENSION OF DISTRIBUTION REINVESTMENT PLAN
In accordance with ASX Listing Rule 3.10.8, Cromwell Property Group (ASX:CMW) (Cromwell) today announces the suspension of its distribution reinvestment plan (DRP) in respect of the December 2021 quarter distribution.
Under Rule 13 of the DRP rules, the Cromwell Board may suspend the DRP at any time. The Cromwell Board has made the decision to suspend the DRP because it considers, having regard to a number of relevant factors including the fact that Cromwell’s stapled security price is currently below the per stapled security NTA (net tangible assets), it is not in the interests of Cromwell’s securityholders as a whole for stapled securities to be issued under the DRP.
The quarterly distribution for the quarter ended 31 December 2021 will be paid to securityholders in cash.
No action is required by securityholders. Should the suspension of the DRP be lifted, each securityholder’s existing DRP status will be reinstated.
A copy of the DRP rules can be accessed on Cromwell’s website at: www.cromwellpropertygroup.com/securityholder-centre/distribution-reinvestment-plan
Authorised for lodgement by Michael Wilde (Chief Financial Officer) and Lucy Laakso (Company Secretary and Corporate Counsel).
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For media: For securityholders: Brendan Altadonna (GRACosway) Cromwell’s Investor Services Team +61 409 919 891 1300 268 078 or +61 7 3225 7777 [email protected] [email protected]
ABOUT CROMWELL PROPERTY GROUP
Cromwell Property Group (ASX:CMW) is a real estate investor and fund manager with operations on three continents and a global investor base. Cromwell is included in the S&P/ASX200. As at 30 June 2021, Cromwell had a market capitalisation of $2.3 billion, a direct property investment portfolio valued at $3.9 billion and total assets under management of $11.9 billion across Australia, New Zealand and Europe.
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