By Chris Hutching
Friday 23rd May 2003
|Text too small?|
The trust had a conditional contract to buy the centrally located Downtown Plaza, which had 31 specialty retail tenancies, and was undergoing due diligence, Kiwi Income Property Trust chief executive Angus McNaughton said.
Proceeds from the placement of 23,584,906 units at $1.06 per unit would repay debt if the purchase of the Downtown Plaza didn't go ahead, Mr McNaughton said.
"The shopping centre has the highest pedestrian counts in Hamilton and is located adjacent to the trust's successful Centre Place Shopping Centre."
The issued units rank equally with ordinary units and will participate in the dividend for the year to March 31, 2003, payable in June 2003.
J B Were (NZ) acted for the trust in arranging the placement.
No comments yet
MARKET CLOSE: NZ shares edge lower; power companies under pressure
NZ dollar rises as bets on another OCR cut fade
Broad-based manufacturing pick-up offers silver lining
Global economic outlook not as dark as in August: RBNZ
NZ dollar slips on slew of weak global data, lack of US-China progress
MARKET CLOSE: NZ shares recover as investors re-think RBNZ review
NZ dollar falls on weak Aussie jobs numbers, poor China data
Govt media plan won't weaken commercial players - TVNZ
Goodman trust's 1H net profit quadruples on unrealised property gains
Regional house price inflation accelerates in October