Charter Hall retains management of CQO

27/07/2011 - PDF Version Available

Charter Hall Group (ASX:CHC) today confirms that the resolution to replace Charter Hall Office Management Limited (‘CHOML') as the responsible entity of Charter Hall Office REIT (ASX:CQO) (‘CQO') with their nominee, Moss Capital Funds Management Limited (the ‘Resolution') was not carried at the meeting of CQO unitholders today.

Charter Hall Group's Chairman, Kerry Roxburgh, said: 'We welcome the decision to retain CHOML's management of CQO and thank our investors for their support in today's meeting.

'Since taking on the management in March 2010, Charter Hall has stabilised and added value to the CQO portfolio, significantly reducing its gearing, extending lease terms and improving both earnings and distributions per unit. However, we recognise there is more work to be done and we remain committed to actively managing CQO in the best interest of CQO unitholders.

'We would like to also thank all our CQO and Charter Hall shared services employees who continue to deliver positive results for CQO,' Mr Roxburgh said.

The details of the voting on the Resolution are annexed to the PDF version of this announcement. Of total votes cast, 67.89% voted Against the resolution.

For further information, please contact:

David Harrison
Joint Managing Director
Tel: +61 412 259 751
david.harrison@charterhall.com.au

David Southon
Joint Managing Director
Tel: +61 418 479 155
david.southon@charterhall.com.au

Investor enquiries:
Kylie Ramsden
Head of Listed Investor Relations
Tel: +61 2 8295 1016
kylie.ramsden@charterhall.com.au

Media enquiries:
Rachel Mornington-West
Senior Communications Manager
Tel: +61 2 8908 4093
Rachel.mornington-west@charterhall.com.au


This information has been prepared by Charter Hall Funds Management Limited ABN 31 082 991 786; AFSL 262861 ("CHFML") for information purposes only. This website is not an offer to sell or a solicitation or an offer to subscribe or purchase or a recommendation of any securities referred to herein and the information has not taken into account any potential investors' personal objectives, financial situation or needs. Before investing, you should consider your own objectives, financial situation and needs or you should obtain financial, legal and/or taxation advice.

CHFML does not receive fees in respect of the general financial product advice it may provide, however they will receive fees for operating the schemes of which it is the responsible entity ("Schemes") which, in accordance with the Schemes' Constitutions, are calculated by reference to the value of the assets of the Schemes. Entities within the Charter Hall Group may also receive fees for managing the assets of, and providing resources to the Schemes. For more detail on fees, see our latest annual report. To contact us, call 1300 365 585 (local call cost).