APGF Real Estate Investment Trust (AREIT)
The APGF Real Estate Investment Trust (AREIT) was formed in March 2011 following the merger of the APGF Diversified Property Fund (ARSN 107 197 231), APGF Property Syndicate No. 5 (ARSN 104 789 997) and APGF Property Syndicate No. 7 (ARSN 108 582 636).
The formation of AREIT has been achieved by stapling the interests held by investors in the three funds with shares in APGF Real Estate Investment Limited (ACN 146 494 402).
AREIT's investment strategy is to produce stable long term annuity type income and capital growth.
Responsible Entity APGF Management Limited
ACN 090 257 480 AFSL No. 229287
- Financial Statistics as at 30 September 2011
- Net Tangible Assets per stapled security: $0.93 (unaudited)
- NTA as at 30 June 2011: $0.93 (audited)
- Fund Size: $123,900,000
- The NTA does not represent the return an investor will receive on final settlement as it does not consider future performance, distributions, disposal costs or achieved sales price. The NTA should be used as a guide only and is calculated using the latest valuation
06.02.12
Our letter of 1 February 2012 advised the possible sale of 61 Park Road, Milton. Further to this letter, the prospective sale did not proceed.
11.11.11
AREIL AGM Results
Set out below are the results for the six resolutions considered at the 2011 Annual General Meeting for APGF Real Estate Investment Limited:
Resolutions 1, 2 and 6 were ordinary resolutions and required 50% of votes cast to be in favour in order for the resolution to pass. Resolutions 3, 4 and 5 were special resolutions and required 75% of votes cast by value to be in favour in order for the resolution to pass. All six resolutions were passed at the meeting held on 4 November 2011.
Resolution 1 – Re-election of Director, Neil Summerson
9,411,272 stapled securities, proxy votes received FOR the resolution.
2,439,153 stapled securities, proxy votes received OPEN on the resolution.
190,466 stapled securities, proxy votes received AGAINST the resolution.
78,745 stapled securities, proxy votes received ABSTAINED on the resolution.
This resolution was passed on a show of hands.
Resolution 2 – Re-election of Director, Adriano Cragnolini
9,280,675 stapled securities, proxy votes received FOR the resolution.
2,481,436 stapled securities, proxy votes received OPEN on the resolution.
278,780 stapled securities, proxy votes received AGAINST the resolution.
78,745 stapled securities, proxy votes received ABSTAINED on the resolution.
This resolution was passed on a show of hands.
Resolution 3 – Amendments to APGF Property Syndicate No. 5 Constitution
2,275,880 stapled securities, representing 83.4% of the votes cast by value voted FOR the resolution.
454,256 stapled securities, representing 16.6% of the votes cast by value voted AGAINST the resolution.
Resolution 4 – Amendments to APGF Property Syndicate No. 7 Constitution
2,196,740 stapled securities, representing 86% of the votes cast by value voted FOR the resolution.
355,256 stapled securities, representing 14% of the votes cast by value voted AGAINST the resolution.
Resolution 5 – Amendments to APGF Diversified Property Fund Constitution
4,960,783 stapled securities, representing 85.8% of the votes cast by value voted FOR the resolution.
818,045 stapled securities, representing 14.2% of the votes cast by value voted AGAINST the resolution.
Resolution 6 – Appointment of Crowe Horwath as Auditors of the Company
8,305,546 stapled securities, proxy votes received FOR the resolution.
2,487,039 stapled securities , proxy votes received OPEN on the resolution.
1,237,290 stapled securities, proxy votes received AGAINST on the resolution.
89,761 stapled securities, proxy votes received ABSTAINED on the resolution.
This resolution was passed on a show of hands.
Stapling Process
The formation of AREIT has been achieved by stapling the interests held by investors in the three funds with shares in APGF Real Estate Investment Limited. AREIT is the term used to refer to the abovementioned funds and the Company, as AREIT is not a separate legal entity or trust. One stapled security in AREIT means that an investor owns one unit in each of ADPF, APS 5, APS 7 and one share in the Company. To obtain a copy of the AREIT Stapled Security Pricing Policy, please contact APGF's Investor Relations Team on 1300 668 698 or by email at info@apgf.com.au.