AMP NZ Office Trust: key dates and details for unit purchase planDecember 20 2006 New Zealand’s largest listed investor in prime commercial office property, AMP NZ Office Trust (ANZO), has provided further detail on the unit purchase plan which is to follow its recent $40 million placement of units. The institutional placement took place last week, in conjunction with the $39.5 million acquisition of Wellington’s AXA Centre and an increase in future investor returns on the back of continued strong portfolio performance and outlook. The unit purchase plan (UPP) will allow all of ANZO’s unit-holders to participate in the capital-raising and growth initiatives, to a maximum of $5,000 per unit-holder. As previously indicated, unit-holders will be able to participate on similar terms to the institutions which took part in the placement, with units to be offered at a price representing a 1.77 percent discount to the the five-day volume-weighted average unit price prior to the record date. Units issued under both the placement and the UPP will be eligible for ANZO’s second-quarter distribution. Key dates for the UPP are:
ANZO executive manager Rob Lang said the proceeds of the unit purchase plan will initially be used to reduce ANZO’s debt and as a result is expected to improve earnings and strengthen the balance sheet for future acquisitions. About ANZOANZO is New Zealand’s largest listed investor in premium and A-grade commercial office property. A unit trust listed on the New Zealand Exchange, ANZO currently owns 12 New Zealand office buildings with a total gross value of more than $1 billion – Auckland’s PricewaterhouseCoopers Tower, ANZ Centre, IAG House and Quay Tower; and Wellington’s State Insurance Tower, Vodafone on the Quay (formerly Mobil on the Park), HP Tower, 125 The Terrace, No. 1 and 3 The Terrace, Pastoral House, Mayfair House and AXA Centre. Media enquiries: |