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- Release Date: 12/03/13 17:46
- Summary: GENERAL: VHP: Vital receives favourable binding ruling
- Price Sensitive: No
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VHP
12/03/2013 15:46
GENERAL
REL: 1546 HRS Vital Healthcare Property Trust
GENERAL: VHP: Vital receives favourable binding ruling
12 March 2013
Vital receives favourable binding ruling from Inland Revenue
Vital Healthcare Management Limited ('the Manager'), the manager of Vital
Healthcare Property Trust ('the Trust') today announced the Trust had
obtained an Inland Revenue ('IR') binding ruling.
The Trust has received a binding ruling from the IR that the Trust is a
"Public Unit Trust" for the purposes of the Income Tax Act 2007 ('Act'). The
effect of this ruling is that any unit holder (and their associated persons)
may have an interest of up to 25% in the Trust without the Trust losing its
Portfolio Investment Entity or "PIE" status in terms of the Act. In the
absence of the ruling, it was previously understood that no unit holder could
hold more than 20% of the units in the Trust if the Trust were to maintain
its PIE status. The ruling takes effect as of today.
David Carr, Chief Executive of the Manager said "We are pleased with the IR
ruling as it provides additional flexibility to the Trust in determining the
form and terms of potential future capital raising initiatives, within the
framework of maintenance of the Trust's beneficial PIE status."
- ENDS -
ENQUIRIES
David Carr
Chief Executive Officer
Vital Healthcare Management Ltd
Telephone 09 973 7301
Email [email protected]
Stuart Harrison
Chief Financial Officer
Vital Healthcare Management Ltd
Telephone 09 973 7302
Email [email protected]
End CA:00234050 For:VHP Type:GENERAL Time:2013-03-12 15:46:51
