Charter Hall Retail REIT Distribution Reinvestment Plan Issue Price
Charter Hall Retail REIT (ASX:CQR) (the ‘REIT’) today announces the Distribution Reinvestment Plan (DRP) issue price for the half year ending 31 December 2013 is $3.5883 per ordinary unit, based on the volume weighted average market price of REIT units traded on the ASX over the 10 business days from 23 December 2013 to 8 January 2014 inclusive. The DRP issue price incorporates the 1.0% discount announced on 11 December 2013.
The REIT will raise approximately $14 million from the DRP, following a preliminary participation rate of 29%, with the proceeds being applied to the REIT’s redevelopment pipeline and Australian acquisition opportunities. The DRP units will be issued on the distribution payment date, being on or about 28 February 2014.
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