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INGENIA COMMUNITIES GROUP — Capital/Financing Update 2016
Oct 30, 2016
65125_rns_2016-10-30_ffbdacea-c842-48d6-9501-d5c7747bdb77.pdf
Capital/Financing Update
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31 October 2016
’ - Ingenia announces completion of sell down of the Group s DMF portfolio
Ingenia Communities Group (INA) today announced that the Group has finalised the sale of the majority of the Group’s Deferred Management Fee (DMF) portfolio.
Ingenia has now completed the divestment announced on 28 September 2016, with the transfer of the majority of the Group’s DMF assets into a new vehicle owned jointly by Forum Partners and Ingenia. The five communities divested represent approximately 82% of the DMF portfolio value (at 30 June 2016). Ingenia has realised proceeds of $41 million from the divestment and retains a residual net equity interest in the new vehicle of approximately $2.2 million.
ENDS
For further information please contact: Simon Owen Donna Byrne Chief Executive Officer Group Investor Relations Manager P 02 8263 0501 P 02 8263 0507 M 0412 389 339 M 0401 711 542
Ingenia Communities Holdings Limited (ACN 154 444 925), Ingenia Communities Fund (ASRN 107 459 576) and Ingenia Communities Management Trust (ARSN 122 928 410). The Responsible Entity for each scheme is Ingenia Communities RE Limited (ACN 154 464 990) (AFSL415862).
Level 9, 115 Pitt St, Sydney NSW 2000, Australia
T 1300 132 946 E [email protected]