PCT precinct prop nz ltd & invest ltd stapled security (ns)

Ann: GENERAL: PCT: Company update - Wellington Ea

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    • Release Date: 22/07/13 10:37
    • Summary: GENERAL: PCT: Company update - Wellington Earthquake
    • Price Sensitive: No
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    PCT
    22/07/2013 08:37
    GENERAL
    
    REL: 0837 HRS Precinct Properties New Zealand Limited
    
    GENERAL: PCT: Company update - Wellington Earthquake
    
    Following the 6.5 magnitude earthquake that struck the Wellington region
    yesterday afternoon, Precinct Properties New Zealand Limited ("Precinct")
    advises that while no major damage has been reported, inspections are
    underway to assess whether any damage to the portfolio has occurred.
    
    Precinct has engaged its seismic engineers Holmes Consulting Group ("Holmes")
    and can advise that structural investigations should begin this morning.
    
    Precinct engaged Holmes in 2011 to undertake a comprehensive programme of
    assessment of the seismic strength of the portfolio. As a consequence of this
    assessment Holmes have a very good understanding of the portfolio's expected
    seismic performance.
    
    Precinct owns 10 Wellington CBD office towers representing around 40% of the
    company's $1.6 billion property portfolio.
    
    A further update on the outcome of the inspections will be provided as
    information becomes available.
    
    For further information, contact:
    
    Scott Pritchard
    Chief Executive Officer
    Office: +64 9 927 1640
    Mobile: +64 21 431 581
    Email: [email protected]
    
    George Crawford
    Chief Financial Officer
    Office: +64 9 927 1641
    Mobile: +64 21 384 014
    Email: [email protected]
    
    About Precinct (PCT)
    Precinct is New Zealand's only specialist listed investor in prime and
    A-grade commercial office property. Listed on the New Zealand Exchange, PCT
    currently owns 17 New Zealand buildings - Auckland's PricewaterhouseCoopers
    Tower, ANZ Centre, SAP Tower, AMP Centre, Zurich House, HSBC House and
    Downtown Shopping Centre; and Wellington's State Insurance Tower, Vodafone on
    the Quay, 171 Featherston Street, 125 The Terrace, No. 1 and 3 The Terrace,
    Pastoral House, Mayfair House, 80 The Terrace, Deloitte House and Bowen
    Campus.
    End CA:00238806 For:PCT    Type:GENERAL    Time:2013-07-22 08:37:39
    				
 
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