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GOODMAN GROUP — Capital/Financing Update 2009
Aug 18, 2009
64998_rns_2009-08-18_d899e84a-08fd-4906-9c2d-a66775fea52f.pdf
Capital/Financing Update
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NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO US PERSONS
Goodman Group implements investment strategy in New Zealand
Date 19 August 2009 Release Immediate
Goodman Group (Goodman) today announces that it has realised A$72 million from the partial sale of its interest in New Zealand listed Goodman Property Trust (GMT or Trust). Goodman’s interest has reduced from 28% to 17% with the completed sale of 93 million units to a number of institutional investors at NZ$0.95 per unit.
Group Chief Executive Officer, Greg Goodman said, “the Group’s 17% holding in GMT is a long term investment position and is in line with our strategy of targeting 15-20% for investments in the Group’s funds.
The units were placed with a number of leading institutions, following strong investor demand. It follows the recent announcement of the Group’s $1.8 billion capital raising and further demonstrates continued strong investor confidence and support in GMT and the Group’s managed fund platform.”
The Group’s interests continue to be aligned with those of its investors through the retention of a significant cornerstone investment. The sell down will assist Goodman to pursue its core operation of owning, developing and managing industrial property and business space in its key markets.
GMT is one of New Zealand’s leading listed vehicles and the Group confirms its long-term commitment to this market.
John Dakin, Chief Executive Officer for GMT New Zealand said, “The Trust is performing well and it is extremely pleasing for Goodman in New Zealand to receive the strong support from these major investors. The Group’s commitment to hold a 17% long term interest in GMT places us in the best possible position to continue delivering long-term value for investors.”
The transaction does not have an impact on operating earnings guidance for FY10.
-ENDS-
For further information, please contact Goodman:
Greg Goodman John Dakin Group Chief Executive Officer CEO New Zealand Tel +61 2 9230 7400 Tel +649 375 6063
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Level 10, 60 Castlereagh Street, Sydney NSW 2000 | GPO Box 4703, Sydney NSW 2001 Australia Tel +61 2 9230 7400 | Fax +61 2 9230 7444 | [email protected] | www.goodman.com Goodman Limited ABN 69 000 123 071 Goodman Funds Management Limited ABN 48 067 796 641 AFSL Number 223621
About Goodman
Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe and the United Kingdom. Goodman Group, comprised of the stapled entities Goodman Limited and Goodman Industrial Trust, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist fund managers of industrial property and business space globally.
Goodman’s global property expertise, integrated own+develop+manage customer service offering and significant fund management platform ensures it creates innovative property solutions that meet the individual requirements of its customers, while seeking to deliver longterm returns for investors
For more information please visit www.goodman.com
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Level 10, 60 Castlereagh Street, Sydney NSW 2000 | GPO Box 4703, Sydney NSW 2001 Australia Tel +61 2 9230 7400 | Fax +61 2 9230 7444 | [email protected] | www.goodman.com Goodman Limited ABN 69 000 123 071 Goodman Funds Management Limited ABN 48 067 796 641 AFSL Number 223621