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
