Announcements

Closure of the Charter Hall Direct 144 Stirling St Trust and final payment 

Management have determined it is in the best interest of investors to sell the asset. As such, Management and the Responsible Entity’s Board have accepted an offer for the trust’s asset.The sale of the asset will provide investors in the trust with a redemption price of $0.88 per unit. This reflects a return of 6.6% per annum since inception, or $1.34 of combined income and capitalpayments based on an initial $1.00 per unit invested.

Management will commence steps to wind-up the trust immediately following the final capital payment in early March 2018.

Closed for Investment Oversubscribed

The responsible entity (RE) is pleased to announce that in relation to the CHIF8 Product Disclosure Statement (PDS) dated 15 May 2012, the total offer amount of $32 million has been raised.

In closing the offer, the RE determined to accept over-subscriptions of up to $1.5 million. This additional capital was used to reduce borrowings and provide additional liquid working capital for the trust.  In deciding to accept these modest over-subscriptions, the RE does not anticipate that there will be any impact on the forecast distribution rate set out in the PDS.

 

Distribution Policy

Pursuant to the PDS, all foundation units issued to satisfy the first close amount were automatically redeemed, and the proceeds applied, to the issue of ordinary units on 20 July 2012.

This means that these investors ceased earning a cash return on 20 July 2012 and commenced receiving distributions on ordinary units, which are forecast to pay distributions at a rate of 8.85 cent per unit per annum from the allotment of ordinary units to 30 June 2013 and 9.15 cents per unit for the year to 30 June 2014.  For more detail regarding the forecast distributions, refer to the PDS. 

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