- Release Date: 26/08/13 11:43
- Summary: ALLOT: VHP: Allotment of units of Vital Healthcare Property Trust
- Price Sensitive: No
- Download Document 4.01KB
VHP 26/08/2013 09:43 ALLOT REL: 0943 HRS Vital Healthcare Property Trust ALLOT: VHP: Allotment of units of Vital Healthcare Property Trust 26 August 2013 Allotment of units of Vital Healthcare Property Trust Vital Healthcare Management Limited the Manager of Vital Healthcare Property Trust ("the Trust") is pleased to advise the allotment of New Units following the successful completion of its 1-for-10 pro-rata renounceable rights offer ('Offer'), under the Simplified Disclosure Prospectus dated 4 July 2013. The Offer at $1.275 for each New Unit received strong support with approximately 88% of the rights available under the Offer subscribed directly by existing unitholders and following rights trading. This equated to around 27.2 million of new units (or $34.6 million), resulting in only 3.5 million New Units being available under the Oversubscription Facility. The Oversubscription Facility received a higher level of application than New Units available for allocation under it. Oversubscription applications have therefore been allocated and/or scaled back in accordance with the Simplified Disclosure Prospectus, with refunds to be sent to unitholders on Monday 26th August. Graeme Horsley, Independent Chairman said "The Board is extremely pleased with the outcome. We believe the strong unitholder support of the Offer further endorses the Trust's growth and diversification strategy and the Board would like to thank all our unitholders for their on-going support of the Trust". Chief Executive David Carr said "The funds will initially be used to repay bank debt. However, the successful capital raising also provides the Trust with added flexibility to undertake any ongoing capital expenditure projects or strategic acquisitions, as they arise". The New Units applied for under the Offer were allotted on Friday 23rd August with unitholder statements being mailed out. For the purposes of Listing Rule 7.12.1, the Manager of Vital Healthcare Property Trust, Vital Healthcare Management Limited, hereby advises the following new units have been issued: (a) Class of Security: Vital Healthcare Property Trust ordinary units ISIN: NZCHPE0001S4 (b) Number issued: 30,704,892 (c) Issue price: $1.275 per unit (d) Payment terms: Cash, pursuant to the Simplified Disclosure Prospectus dated 4 July 2013 (e) Amount paid up: Fully paid (f) Percentage of Class of Securities issued: 10.0% of the total number of units on issue immediately prior to the issue of the new units (g) Reason for issue: 1:10 rights issue described in the Simplified Disclosure Prospectus dated 4 July 2013 (h) Specific authority for issue: Board resolution dated 3 July 2013 (i) Terms of issue: The units will rank equally in all respects with existing ordinary units in the Trust (j) Total number of Securities of Class in existence after issue: 337,742,960 (k) Treasury Stock: Not applicable (l) Date of issue: 23 August 2013 - ENDS - ENQUIRIES Stuart Harrison, Chief Financial Officer Vital Healthcare Management Ltd, Telephone 09 973 7302, Email [email protected] About Vital Healthcare Property Trust With a portfolio value of over NZ$618m, Vital Healthcare Property Trust (NZSX: VHP) is Australasia's largest listed investor in medical and healthcare property infrastructure. With an expert understanding of the needs of healthcare tenants on both sides of the Tasman, we actively select, develop and manage quality properties to meet the growing demand for medical and healthcare services. Our 108 tenants, in 24 properties, provide essential healthcare services to thousands of patients while also undertaking research and providing support services that will make a difference to many more lives in the future. The Manager of Vital Healthcare Property Trust, Vital Healthcare Management Limited is owned by NorthWest Value Partners Inc., a private real estate investment firm based in Canada with healthcare real estate interests in Canada, Australia, New Zealand, Brazil and Germany. vitalhealthcareproperty.co.nz End CA:00240171 For:VHP Type:ALLOT Time:2013-08-26 09:43:47
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