DNZ Property Fund Limited DRP Price Determined

DNZ Property Fund Limited DRP Price Determined

DNZ Property Fund Limited DRP Price Determined 9/09/2013

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 12 September 2013 has been set at $1.6316 per share.

 
The strike price is calculated on the 5 day weighted average trading price of the shares, commencing on (and including) 2 September 2013 being the first business day immediately after the record date 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 $732.5 million (as at 30 June 2013*) of commercial office, retail and industrial properties located in the main urban areas throughout New Zealand. As at 30 June 2013, DNZ Property Fund owned 46 properties with 291 tenants, a weighted average lease term of 5.6 years and an occupancy rate of 99.6% over a net lettable area of 364,219m².

DNZ Property Fund Limited is a Portfolio Investment Entity in which investors hold shares and is managed by its own internal management team. DNZ also holds management rights to Diversified NZ Property Fund Limited, a $111 million (as at 31 March 2013) commercial property portfolio.

DNZ’s top 10 tenants as at 30 June 2013: Bunnings, Progressive Enterprises (Countdown), NZ Government, Foodstuffs (PAK’nSAVE & New World), Fletcher Building, ASB, The Warehouse, Westpac, Meridian Energy, Lion. These 10 tenants represent 51% of the Company’s total contract rental.

* 31 March 2013 valuations plus the purchase price of the Silverdale Centre less assets sold post 31 March 2013 balance date.

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