THE GPT GROUP The GPT Group ("GPT" or "Group") today announced that the liquidity review process for the GPT Wholesale Shopping Centre Fund (GWSCF) has been successfully concluded.
The conclusion of the liquidity review follows the Fund's extraordinary general meeting in February where investors voted in favour of the renewal of the Fund terms for GWSCF.
The Fund received liquidity requests for 78.5 million securities, or approximately 2.4 per cent of issued capital, during the liquidity review process. These securities were subsequently offered to existing unitholders under the Fund's pre-emptive trading process. A separate offer of 120 million securities, by an existing investor, was also made under the secondary trading process. Nine existing investors in GWSCF, including GPT, acquired all of the securities on offer.
Following the conclusion of these offers, GPT advises that it has purchased approximately
$116.6 million in securities in GWSCF. GPT's purchase increases the Group's interest in the Fund from 25.3 per cent to 28.9 per cent.
GPT's CEO and Managing Director, Bob Johnston, said: "GPT was pleased to receive the strong support from investors for the revised Fund terms and the opportunity to acquire further units in a high quality portfolio of retail assets."
The Group's increased interest in GWSCF is in addition to its purchase of $157 million of securities in September last year.
-ENDS-For more information, please contact:
Investors: Sophia Bashford Investor Relations Associate +61 2 8239 3634 +61 427 246 484 | Media: Scott Rochfort Group Media Manager +61 2 8239 3938 +61 438 733 864 |
The GPT Group published this content on 16 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 May 2017 07:17:32 UTC.
Public permalinkhttp://www.publicnow.com/view/E4602739E3E3004F4501861C78CE9FE869DCF14C
