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MUSTERA PROPERTY GROUP LIMITED — Capital/Financing Update 2015
Jun 3, 2015
65369_rns_2015-06-03_372cf79e-0f44-4317-957a-e6939137bd36.pdf
Capital/Financing Update
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MUSTERA TO ACQUIRE SECOND MIDLAND SITE
ASX Announcement
4 June 2015
Mustera Property Group Ltd ( Mustera or the Company) is pleased to announce that it has completed its due diligence (DD) program on Lot 801 Helena Street Midland (the Site), including investigative works and feasibility studies.
ASX CODE: MPX
DIRECTORS
After consideration of the DD studies, the Board has resolved to proceed with the acquisition of the Site and has notified the Metropolitan Redevelopment Authority (MRA) of its satisfaction of DD, in accordance with the conditions outlined in the contract for sale.
Mr Nicholas Zborowski Executive Director
Mr Anthony Ho Non-Executive Director
Mr Benjamin Young Non-Executive Director
Mr Jack Spencer-Cotton
Non-Executive Director
The Site is adjacent to the Company’s Victoria Quarter (Lot 803 Foundry Road) project which was acquired in June 2014. The level of interest since commencing the marketing campaign for the Victoria Quarter project has played a significant part in the Board’s decision to proceed with the acquisition of the Site.
The Site is located on the corner of Helena Street and Yelverton Drive in Midland and forms part of the MRA’s Railway Square Precinct, a lifestyle precinct which involves the transformation of the existing railway shunting yards into a vibrant and activated mixed use square.
The development of the Site will comprise circa 75 - 80 residential apartments with commercial space on the ground floor to invigorate the square.
CAPITAL STRUCTURE
Ordinary Shares: 85.2M Options: 11.0M
ABN 13 142 375 522
Settlement of the acquisition is set for 28 June 2015.
Nicholas Zborowski Executive Director
Suite 7
61 Hampden Road Nedlands WA 6009
T : +61 8 9386 7069 F : +61 8 9386 7069 E : [email protected] W : www.mustera.com.au
Company Enquiries: Nicholas Zborowski – Executive Director T: +61 8 9386 7069 E: [email protected]
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