it's in the announcment today, but:QUOTE:Australand also...

it's in the announcment today, but:
QUOTE:

Australand also announced that it would be conducting a 7 for 10 non-renounceable pro-rata entitlement offer (Entitlement Offer) of new stapled securities (each a New Security) in Australand to raise approximately $475 million at an offer price of $0.40 per New Security (Offer Price). Australand’s major securityholder, CapitaLand Limited (“CapitaLand”) has committed to take up its full entitlement of approximately $282 million, demonstrating its commitment to Australand and the Australian market.
The Entitlement Offer will comprise an institutional component to raise approximately $380 million (Institutional Entitlement Offer) and a retail component to raise approximately $95 million (Retail Entitlement Offer).



The Offer Price of $0.40 represents a discount of 20.0% to Australand’s closing price of $0.50 on 24 July 2009, a discount of 12.8% to the theoretical ex-rights price and a discount of 43.5% to pro-forma net tangible assets per Security as at 30 June 2009. New Securities will rank equally with existing Securities in all respects, including dividend/distribution entitlements.
The Record Date for the Entitlement Offer will be 7.00 pm on Thursday, 30 July 2009. The Entitlements are non-renounceable and will not be tradeable on ASX or otherwise transferable.

END QUOTE

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