09 Oct Stride Opens its Share Purchase Plan
Stride Opens its Share Purchase Plan — 9 Oct 2015
Further to the announcement of 23 September 2015, Stride Property Limited (Stride) advises that its Share Purchase Plan (SPP) opens today.
The SPP offer document is being mailed to shareholders today. Applications to participate in the SPP close at 5.00 p.m. on 28 October 2015. Shares subscribed for under the SPP are expected to be allotted on 4 November 2015.
Attachments provided to NZX
1. SPP – Chairman’s letter, SPP Document and Application Form
2. Notice pursuant to clause 20(1)(a) of schedule 8 to the Financial Markets Conduct Regulations 2014
For Further Information Please Contact:
Tim Storey, Chairman, Stride Property Limited
Mobile: 021 633 089 – Email: email@example.com
Peter Alexander, Chief Executive, Stride Property Limited
DDI: 09 913 1154 – Mobile: 0275 443 678 – Email: firstname.lastname@example.org
Jennifer Whooley, Chief Financial Officer, Stride Property Limited
DDI: 09 913 1150 – Mobile: 021 536 406 – Email: email@example.com
Stride Property Limited (‘Stride’), formerly known as DNZ Property Fund Limited, owns one of New Zealand’s largest diversified investment property portfolios with $890.9 million (as at 31 August 2015) of commercial office, retail and industrial properties located in the main urban areas throughout New Zealand. As at 31 August 2015, Stride owned 42 properties with 294 tenants, a weighted average lease term (WALT) of 5.3 years and an occupancy rate of 99.6% over a net lettable area of 338,504m².
Stride is a Portfolio Investment Entity in which investors hold shares and is managed by its own internal management team. Stride is also the manager of Diversified NZ Property Fund Limited, a $118.4 million (as at 31 March 2015) commercial property fund.
Stride’s top 10 tenants as at 31 August 2015: Bunnings, Progressive Enterprises (Countdown), Foodstuffs (PAK’nSAVE & New World), ASB, NZ Government, The Warehouse, Fletcher Building, Westpac, Meridian and Lion. These 10 tenants represent 50% of Stride’s total contract rental.