DNZ Property Fund Limited Dividend Reinvestment Plan Price Determined

DNZ Property Fund Limited Dividend Reinvestment Plan Price Determined

DNZ Property Fund Limited Dividend Reinvestment Plan Price Determined 10/09/2012

DNZ Property Fund Limited wishes to advise that the strike price for the shares to be issued under its Dividend Reinvestment Plan in respect of the dividend payable on 13 September 2012 has been set at $1.5369 per share.

 
The strike price is calculated as the average of the weighted average prices at which shares in the Company were sold through the NZX on each of the 5 business days immediately succeeding the Record Date of 31 August 2012 less the discount of 1%.
 


 
For Further Information Please Contact:
Jennifer Whooley, Chief Financial Officer, DNZ Property Fund Limited
DDI: 09 913 1150 – Mobile: 021 536 406 – Email: jennifer.whooley@dnzproperty.com

DNZ Property Fund Overview
DNZ Property Fund Limited owns one of New Zealand’s largest diversified investment property portfolios with commercial office, retail and industrial properties located in the main urban areas throughout New Zealand. As at 30 June 2012, DNZ Property Fund owned 51 properties with 252 tenants, a weighted average lease term (WALT) of 5.6 years and an occupancy rate of 98.6% over a net lettable area of 379,960m².

DNZ Property Fund Limited is a Portfolio Investment Entity in which investors hold shares and is managed by its own internal management team. DNZ Property Fund Limited also manages the $105m property portfolio of Diversified NZ Property Fund Limited for Australian institutional investors.

DNZ’s top 10 tenants as at 30 June 2012: Bunnings, Progressive Enterprises (Countdown), NZ Government, Fletcher Building, Foodstuffs (PAK’nSAVE & New World), ASB, Meridian Energy, Mitre 10, Lion and Westpac. These 10 tenants represent 52% of the Company’s total contract rental.

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