Charter Hall Long WALE REIT – Successful completion of $250 million institutional entitlement offerright-arrow
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by Charter Hall Announcements

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Not for distribution or release in the United States

Charter Hall WALE Limited as responsible entity of the Charter Hall Long WALE REIT (ASX:CLW) (CLW or the REIT) is pleased to announce the successful completion of the institutional component of the fully underwritten 1-for-10.68 accelerated non-renounceable entitlement offer (Institutional Entitlement Offer) announced on 18 May 2021.

The Institutional Entitlement Offer raised approximately $169 million, including Charter Hall Group’s full entitlement of approximately $29 million. The retail component of the entitlement offer (Retail Entitlement Offer) will open on 24 May 2021 and is expected to raise $81 million, taking the total size of the entitlement offer to approximately $250 million (Entitlement Offer).

New securities issued under the Entitlement Offer will be issued at a fixed price of $4.65 per security (Issue Price) and rank equally with existing CLW securities from the date of issue including full entitlement to the distribution for the three months to 30 June 2021.

Institutional Entitlement Offer

The Institutional Entitlement Offer was well supported by existing institutional securityholders with approximately 93% take-up by eligible institutional securityholders. The shortfall under the Institutional Entitlement Offer also attracted demand from both existing and new securityholders. Approximately 36 million securities will be issued under the Institutional Entitlement Offer at the Issue Price.

New securities issued under the Institutional Entitlement Offer will settle on 27 May 2021, with allotment and normal trading on 28 May 2021.

Retail Entitlement Offer

The Retail Entitlement Offer will open on 24 May 2021 and close at 5:00pm (AEDT) on 2 June 2021. Eligible retail securityholders who hold securities in the REIT as at 7:00pm (AEDT) on the record date of 20 May 2021 and have a registered address in Australia or New Zealand (Eligible Retail Securityholders) will be invited to participate in the Retail Entitlement Offer at the Issue Price.

Further details on the Retail Entitlement Offer will be provided in the retail offer booklet which will be mailed to Eligible Retail Securityholders.

Recommencement of trading

CLW securities are expected to resume trading on the ASX from market open today (19 May 2021).

Announcement Authorised by the Fund Manager

Click here to view the ASX Announcement