AMP NZ Office Trust completes unit purchase planFebruary 21, 2007 New Zealand's largest listed investor in prime commercial office property, AMP NZ Office Trust (ANZO), has completed its unit purchase plan (UPP), raising $19.5 million. The UPP followed the institutional placement of units which took place in December last year, in conjunction with the $39.5 million acquisition of Wellington's AXA Centre and the announcement of an increase in future investor returns on the back of continued strong portfolio performance and outlook. (To view December 2006 announcement, click here). The UPP provided all of ANZO's New Zealand unit-holders with an opportunity to participate in the capital-raising and growth initiatives, by investing in additional units at the same discount to market price offered to the institutions which took part in the placement. Unit-holders were offered the opportunity to purchase 3,950 units at an issue price of $1.26 per unit. 2,198 registered unit-holders, representing 42.5 percent of the eligible registered unit-holders, have elected to take part in the UPP. The new units are scheduled to be allotted after close of trading on Wednesday February 21, 2007 and will trade on the NZSX from Thursday February 22, 2007 on the same basis as ANZO's existing units. Units issued under the UPP are eligible for ANZO's second-quarter distribution (record date February 23, 2007, with payment to take place on March 2, 2007). The proceeds of the unit purchase plan will initially be used to reduce ANZO's debt and as a result, are expected to improve earnings and strengthen the balance sheet for future acquisitions. About ANZO Media enquiries: |