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1.75%

28.0¢ us masters residential property fund

URFPA: Now a speculative buy, page-93

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noomxx

7,253 Posts.

1065

23/06/21

14:47

Post #: 54018403
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Originally posted by eigenvalue: ↑

Perhaps I'm missing something in the PDS, but I can't find anything to suggest that the CPUs will be converted at par.

Can anyone point me to the page number in the PDS to suggest par?

Here is the sort of information I can find in the PDS (page v):

"Also, the number of Units issued for each CPU on conversion (other than in respect of accumulated unpaid distributions) is bound by parameters based on the Unit price at the time, with the current maximum number of Units into which a CPU can convert being 205 Units and the current minimum number being 44 Units."

Then, importantly, on page 4:

" In addition, the maximum conversion number of Units on conversion is 205. That means that, if the price of Units on conversion is below $0.50, CPU Holders will receive Units which are worth less than the CPUs which are being converted." (emphasis added)

The above suggests to me that the CPUs will not be converted at par. Instead, at current URF prices (i.e., 25 cents), one CPU would be worth $51.25, if converted today.

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s11.8 of the prospectus. "Issue Price" not market price. Issue price is the par price which is $100.

URF Price at posting: 25.0¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 28.0¢		Change -0.005(1.75%)		Mkt cap ! $197.6M

Open	High	Low	Value	Volume
28.5¢	28.5¢	28.0¢	$91.58K	323.1K

Buyers (Bids)

No.	Vol.	Price($)
5	366158	28.0¢

Sellers (Offers)

Price($)	Vol.	No.
29.0¢	436537	8

View Market Depth

No.	Vol.	Price($)
5	366158	0.280
1	1000000	0.275
5	101988	0.270
3	278419	0.265
3	173846	0.260

Price($)	Vol.	No.
0.290	436537	8
0.295	150676	4
0.300	377601	5
0.305	66447	3
0.310	150477	2

Last trade - 16.10pm 20/06/2024 (20 minute delay)

URF (ASX) Chart

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