Folkestone Education Trust Scheme of Arrangement becomes legally effective

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Folkestone Limited ("Folkestone") confirms that it has today lodged with the Australian Securities and Investments Commission an office copy of the orders made by the Federal Court of Australia ("Court") approving the scheme of arrangement between Folkestone and its shareholders under which Charter Hall Limited will acquire 100% of the ordinary shares in Folkestone ("Scheme").

As a result, the Scheme is now legally effective. A copy of the orders made by the Court approving the Scheme is attached.

It is expected that Folkestone shares will be suspended from quotation on the ASX with effect from the close of normal trading today.

Folkestone shareholders who hold shares as at the record date for the Scheme, which has been determined to be 7:00pm (Sydney time) on Wednesday, 31 October 2018, will receive a cash payment of the Scheme consideration on the Scheme implementation date, which is expected to be Wednesday, 7 November 2018.

Folkestone shareholders who have questions in relation to the Scheme should contact the Folkestone Shareholder Information Line on 1300 032 756 (within Australia) or +61 2 8023 5418 outside of Australia between 9:00am and 5:00pm (Sydney time) on business days.