Investors in the Australian Unity Office Property Fund voted overwhelmingly in favour of the proposal to list the Fund on the Australian Securities Exchange (ASX) at a meeting in Melbourne today.
Of those who voted, more than 99 per cent voted in favour of all the resolutions to give effect to the listing.
The Australian Unity Office Fund will trade on the ASX on a conditional and deferred settlement basis from 12 noon on 20 June 2016. It will be the first A-REIT to list on the ASX this calendar year. The Fund will trade under the ASX code ‘AOF’.
David Bryant, chief executive officer at Australian Unity Investments, was pleased with the support from investors and their endorsement of the proposal to list the Fund.
“We have been very happy with the high level of interest from both institutional and retail investors to date. The IPO was well oversubscribed.
“We developed the proposal to list because we believed it was in the best interests of investors. The listing will provide access to additional equity for the sustainable growth of the Fund and liquidity to those investors seeking to withdraw.
“The total value of withdrawal requests received during the recent offer was $53.29 million. Pleasingly, all unitholders requesting a withdrawal will be paid in full. ” Mr Bryant said.
The Fund was established in 2005 and owns a portfolio of eight office assets in New South Wales, Victoria, Australian Capital Territory, South Australia and Queensland, with assets valued at $391 million, at 30 April 2016.
About Australian Unity
Australian Unity is a national healthcare, financial services, and independent and assisted living organisation providing services to almost one million Australians, including around 300,000 members nationwide. Australian Unity’s history as a trusted mutual organisation dates back 175 years. It has grown organically—by continually evolving and providing the services and products needed by the communities it serves—as well as through successful strategic mergers and diversification into new business activities.
For more information please contact:
Chief Executive Officer & Chief Investment Officer
Australian Unity Investments
Phone: 03 8682 4550
Australian Unity Funds Management Limited ABN 60 071 497 115 is the Responsible Entity of the Fund. The information in this media release is general information only and is not based on the objectives, financial situation or needs or any particular investor. More information is available from the Fund’s website at www.australianunityofficefund.com.au. We recommend you seek your own professional advice when considering an investment.