Charter Hall Long WALE REIT - Successful completion of $60 million placementright-arrow
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Not for release to US wire services or distribution in the United States

Charter Hall WALE Limited as responsible entity of the Charter Hall Long WALE REIT (ASX:CLW) (the REIT or CLW) is pleased to announce the successful completion of the fully underwritten institutional placement of approximately $60 million (Placement) announced on 10 September 2020.

Placement

The Placement received strong demand from new and existing institutional investors. 12.3 million new securities will be issued under the Placement at an issue price of $4.87 per security (Placement Issue Price). Securities issued under the Placement will settle on 15 September 2020, with allotment and normal trading on 16 September 2020. Securities issued under the Placement will rank equally with existing CLW securities and will be entitled to the distribution for the three months to 30 September 2020.

The REIT confirms that, pursuant to Listing Rule 7.1, the Placement is within its existing placement capacity and does not require securityholder approval.

Security Purchase Plan

The REIT is also undertaking a non-underwritten Security Purchase Plan (SPP) to raise up to $10 million1. Under the SPP, eligible securityholders in Australia and New Zealand will be invited to apply for up to a maximum of $30,000 in new securities, free of brokerage and transaction costs.

Securities issued under the SPP will rank equally with existing CLW securities from the date of issue, however as they are issued after the distribution record date, new securities issued under the SPP will not be entitled to the distribution for the three months to 30 September 2020. The SPP issue price will be set at $4.798 per security being the Placement Issue Price less the September quarter distribution of 7.2 cents per security.

Further information on the SPP will be lodged with the ASX and sent to eligible securityholders on Thursday, 17 September 2020.

Recommencement of trading

CLW securities are expected to resume trading on the ASX from market open today (11 September 2020).

Announcement Authorised by the Chair

Click here to view the ASX Announcement