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Charter Hall Education Trust Successful Completion Of Unit Purchase Plan

People & Companies / Latest News

Apr 22 2019

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Unit Purchase Plan

Charter Hall Social Infrastructure Limited (Responsible Entity), as responsible entity of Charter Hall Education Trust (ASX:CQE) (CQE or the Trust), confirms the completion of the Unit Purchase Plan (UPP) announced to the Australian Securities Exchange on 27 March 2019 in connection with CQE’s $120 million institutional placement (Institutional Placement). 

A total of approximately $19.29 million was raised under the UPP. In light of the significant demand from existing investors, the Board has utilised its discretion to increase the size of the UPP from $5.0 million to $19.29 million to ensure that all eligible applications are satisfied in full. Approximately 5.76 million new units (New Units) will be issued to eligible applicants on Wednesday, 24 April 2019 at an issue price of $3.35 per unit (Issue Price). The Issue Price is the same as the price paid by institutional investors under the Institutional Placement. These additional funds will initially be used to repay debt. The Responsible Entity confirms its FY19 distribution guidance of 16.0 cents per unit. 

New units issued under the UPP will rank equally with existing CQE units from issue and will carry the same voting rights and entitlements to distributions. The New Units issued under the UPP will be entitled to the distribution for the three months ending 30 June 2019. Holding statements will be issued to eligible applicants on Friday, 26 April 2019.

Charter Hall Group (ASX:CHC) is one of Australia’s leading fully integrated property groups, with over $26.4 billion of high quality, long leased property across the office, retail, industrial and social infrastructure sectors. The Group has offices in Sydney, Melbourne, Brisbane, Adelaide and Perth and oversees a portfolio of 768 properties that is more than 5.4 million square metres in size. The ASX100 Group has over 25 years’ experience managing and investing in high quality property on behalf of institutional, wholesale and retail clients.

Charter Hall’s success is driven by a focus on tenant and investor customers. They look to partner with their tenants, growing with them and helping meet their property needs. Charter Hall invests alongside its capital partners, creating value and generating superior investment returns together. Charter Hall's $3.7 billion development pipeline creates new assets for its investors, improving future returns, while creating opportunities for tenant partners to expand and adapt their businesses. Sustainability and innovation are key elements of the approach. By ensuring innovative actions, having a commercially sound and postive result to its people, customers and the environment, Charter Hall makes a positive impact for its investors, the community and the Group.




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