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INGENIA COMMUNITIES GROUP — M&A Activity 2014
Aug 24, 2014
65125_rns_2014-08-24_8f1ce05b-74c6-4c7f-81de-93702e3490b2.pdf
M&A Activity
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ASX / Media Release
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25 August 2014
Ingenia Approaches Aspen Group and Aspen Park Property Fund
Seeks Due Diligence to Progress Proposal
Ingenia (ASX: INA) today confirms it has made a series of approaches over the past 11 months to the Board of Aspen Group ("APZ”) and Aspen Funds Management Limited (“AFM”) as Manager of the Aspen Parks Property Fund (“AFM”) in regards to potentially acquiring APZ's equity interest and management rights in Aspen Parks Property Fund (“APPF”) or a potential merger of APPF with Ingenia ("Indicative Proposal").
All approaches have been made on an indicative, preliminary and confidential basis and subject to due diligence. There has been no material discussion with either APZ or AFM or provision of non-public material information from either APZ or AFM. APPF and Ingenia are taking the initial steps to explore a transaction including possibly entering into a Confidentiality Deed.
Ingenia notes there is no certainty that the Indicative Proposal will proceed. Ingenia also emphasises that the structure and consideration for the Indicative Proposal have not been discussed or settled. Should such a transaction arise (and there is no assurance to this effect), it would be conditional on any necessary regulatory and other approvals being obtained.
The APPF portfolio of 21 Parks is consistent with Ingenia’s strategy of acquiring and developing a leading portfolio of Lifestyle Parks through targeted acquisitions that meet the company’s strict targeted return on investment hurdles.
Many of the APPF assets are complementary to Ingenia, with a majority in existing market clusters including Central West NSW, South West NSW, Mid North Coast NSW, Geelong and Bellarine Peninsula Victoria and Perth WA.
Ingenia will update securityholders with any material developments in relation to the potential opportunity.
ENDS
For further information please contact Simon Owen Donna Byrne Chief Executive Officer Acting Investor Relations and Marketing Manager P 02 8263 0501 P 02 8263 0507 M 0412 389 339 M 0401 711 542 [email protected] [email protected]
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 5, 151 Castlereagh St, T 1300 132 946 Sydney NSW 2000, Australia E [email protected]
www.ingeniacommunities.com.au