AllCo – SGX
ALLCO REIT ANNOUNCES A PROPOSED YIELD ACCRETIVE PROPERTY ACQUISITION AND A RIGHTS ISSUE
KEY HIGHLIGHTS
- PROPOSED YIELD ACCRETIVE ACQUISITION OF A 50.0% INTEREST IN THE CENTRELINK PROPERTY LOCATED IN CANBERRA, AUSTRALIA FOR S$136.5 MILLION
- PROPOSED RENOUNCEABLE UNDERWRITTEN RIGHTS ISSUE TO RAISE UP TO S$210.0 MILLION TO ACQUIRE THE CENTRELINK PROPERTY AND TO REPAY DEBT
Singapore, 25 May 2007 – Allco (Singapore) Limited (the “Manager” or “Allco Singapore”), the manager of Allco Commercial Real Estate Investment Trust (“Allco REIT”) (SGX:ALLC) wishes to announce that it has today obtained clearance from the Singapore Exchange Securities Trading Limited (“SGX-ST”) to dispatch a Unitholders’ Circular (the “Circular”) to the Unitholders of Allco REIT. The Circular seeks Unitholders’ approval in relation to:
1) The proposed acquisition by Allco REIT of a 50.0% indirect interest in a new office complex located in Canberra, Australia and which will be leased to the Centrelink National Support Office (“Centrelink”), a statutory agency of the Australian federal government (the “Centrelink Property”);
2) The signing of certain documents relating to the acquisition of the Centrelink Property;
3) The proposed renounceable underwritten rights issue of new units (the “Rights Issue”); and
4) The proposed general mandate for the issue of new units
An Extraordinary General Meeting (“EGM”) of the Unitholders of Allco REIT will be held at The Straits Room, Level 4, The Fullerton Hotel, 1 Fullerton Square, Singapore 049178 on Monday, 11 June 2007 at 09.30 a.m.