Centuria reaches over 90% acceptances in Augusta and will compulsorily acquire remaining shares Centuria New Zealand Holdings Limited (“Centuria”) has today announced that it has received sufficient acceptances of its takeover offer (“Offer”) for Augusta Capital Limited (“Augusta”) so that following acquisition of those shares it will own more than 90% of Augusta’s shares.
Centuria will become the dominant owner of Augusta for the purposes of the compulsory acquisition provisions of the Takeovers Code once it has acquired these Augusta shares on 12 August 2020.
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$416.7 million acquisition of Telstra Data Centre in Clayton, Victoria, by Centuria Industrial REIT (ASX: CIP)
Progress re takeover of New Zealand’s Augusta Capital Limited with 85.04% acceptances
Centuria platform AUM growth to $9.4 billion – 50% increase from commencement of FY20
CIP Acquisitions / REIT Guidance
CIP, Australia’s largest domestic pure play industrial REIT, has released its FY20 financial results announcing FY21 FFO guidance of 17.4 cents per unit.
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New Zealand based Augusta has released its Target Company Statement (TCS) in response to the Centuria Offer.
The Augusta Independent Directors Committee has unanimously recommended that, in the absence of a superior offer, Augusta shareholders should accept the Centuria Offer for all their Augusta shares. The TCS also includes an independent assessment of the merits of the Offer prepared by Calibre Partners (formerly known as KordaMentha).
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Since opening the offer on 29 June 2020, Centuria NZ has acceptances which, together with its existing shareholdings in Augusta, represent 65.86% of Augusta’s shares.
John McBain, Centuria Joint CEO, said, “I am delighted to report close to two-thirds of Augusta shares1 have been secured within eight business days of the takeover offer commencing and to report that Centuria has declared the offer unconditional.
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John McBain, Centuria Joint CEO, said, “Centuria is on track to secure approximately 63.9% of Augusta’s shares (including Centuria’s existing 23.3% shareholding), since we made our formal offer yesterday. To further progress the takeover, we intend to vary our cash offer and make this offer unconditional if 63.5% of Augusta’s shares (including Centuria’s existing 23.3% shareholding) are secured.
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Centuria Capital Group (ASX:CNI or Centuria) announce:
Centuria issued a takeover notice confirming its intention to make a full takeover offer to
acquire the remaining shares in Augusta Capital Limited for NZ$130 million
If successful, Centuria AUM will increase by 24% to AU$8.9 billion
Augusta shareholders that accept the proposed offer will receive NZ$0.20 in cash and 0.392
of a Centuria Stapled Security in exchange for each of their shares in Augusta
Supported by Augusta’s founding shareholders and other Augusta shareholders who,
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Centuria Capital Group (Centuria) notes the attached market release by Augusta Capital Limited (Augusta)
regarding the deferral of the planned March 2020 launch of its Tourism Fund and Augusta’s profit
expectations for the NZ financial year ending 31 March 2020.
Centuria understands the deferral is partly in response to the temporary impact of the coronavirus on the
global tourism sector and Centuria views the deferral as both sensible and appropriate.
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We are thrilled to be supporting the Tania Dalton Foundation through the financial support of their scholarship programme. The Tania Dalton Foundation has been established to ensure Tania’s passion for sport and for helping others lives on. The Foundation aims to make a meaningful difference to young New Zealanders in the community. It supports young New Zealanders,
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The age old question of how to make the most of your investment dollar is especially significant in the current economic climate. It’s no secret that we Kiwis love owning houses but there are alternative ways of including property within your investment portfolio – for as little as $10,000 with forecast 6.5%* p.a. pre-tax returns.
The industrial property sector includes the likes of warehousing and manufacturing facilities and has consistently outperformed other commercial property sectors with the highest total returns over the past five years.
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Augusta Industrial Fund launches
The Augusta Industrial Fund Ltd has recently opened for investment, a limited liability company established by Augusta Funds Management Ltd which offers a number of different features.
The fund has been established to invest solely in industrial property with an initial portfolio of four properties – three in Auckland and one in Wellington with a current valuation of about $118 million.
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