MPF: $30m Fully Underwritten Rights Issue Launch
Multiplex Acumen Property Fund (MPF) Launch of $30 million Fully Underwritten Rights Issue Brookfield Multiplex Capital Management Limited (BMCML), the Responsible Entity of Multiplex Acumen Property Fund (the Fund), today launched the $30 million Fully Underwritten Rights Issue announced previously to the market.
The Rights Issue is open to all Unitholders with a registered address in Australia and New Zealand on the Record Date of 7.00pm AEST on 6 August 2010, to participate in a 3 for 1 fully underwritten Rights Issue at an issue price of 5 cents per unit. The new units will rank equally with existing units in the Fund.
Proceeds from the Rights Issue will be used predominantly to repay part of the Fund’s debt facility, to meet costs associated with the Rights Issue and to provide working capital to the Fund. The Rights Issue is fully underwritten by a wholly owned subsidiary of the Brookfield Multiplex Property Trust. Credit Suisse (Australia) Limited has been appointed by BMCML to identify co-underwriters and subunderwriters to the Rights Issue.
Details of any sub-underwriting or co-underwriting arising after today will be announced to the market promptly. The timetable and important dates for the Rights Issue are set out below. Launch of Rights Issue 28 July 2010 Units quoted on ex basis and Rights trading commences (MPFR) 30 July 2010 Record Date 6 August 2010 Date Offer Booklet sent to Unitholders 9 August 2010 Rights trading ends 16 August 2010 Rights Issue closes 23 August 2010 Allotment Date 31 August 2010 BMCML reserves the right subject to the Corporations Act, ASX Listing Rules and other applicable laws, to vary the dates of the Rights Issue including extending the dates for closing the Rights Issue. The terms of the Rights Issue are set out in the accompanying Offer Booklet. Also released today to ASX is a Rights Issue presentation, a Cleansing Statement under Section 1012DAA(2)(f) of the Corporations Act 2001 and an Appendix 3B. Unitholders are encouraged to read the Rights Issue Offer Booklet in full before deciding whether to invest in the Rights Issue. In particular, Unitholders should consider the risk factors (summarised in the Rights Issue Offer Booklet) that may affect the financial performance and position of the Fund in light of their investment objectives, financial situation and particular needs (including financial and tax considerations) and seek investment advice from financial or other professional advisers.
For the information of Unitholders the audited accounts for the Fund for the year ended 30 June 2010 are anticipated to be finalised and released to ASX on or after 26 August 2010.
Unitholders should refer to the Fund’s website www.brookfieldmultiplex.com and to ASX for any announcements made by the Fund prior to the release of the accounts for the year ended 30 June 2010.
Lawrence Wong Media: Fund Manager Kerrie Muskens Ph: (02) 9322 2000 Ph: (02) 9322 2753
Brookfield Multiplex is an Australian-based, fully integrated property and funds management business with activities in commercial, retail, and residential property development, construction, management services, and infrastructure. Brookfield Multiplex is a wholly-owned subsidiary of Brookfield Asset Management, a global asset manager focused on property, power and infrastructure with over US$100 billion of assets under management and listed on the New York and Toronto Stock Exchanges under the symbols BAM and BAM.A, respectively, and on NYSE Euronext under the symbol BAMA. For more information, please visit the Company’s website at www.brookfieldmultiplex.com.
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