St John Balanced Property Fund joins Unlisted

Friday 2nd October 2009

Unregistered securities trading facility Unlisted has announced that St John Balanced Property Fund Limited has joined the facility.

"We are delighted that St John Balanced Property Fund has chosen to use Unlisted to provide its shareholders with a flexible and cost-effective solution to meet its secondary trading needs. We see this as a viable path that other property investment vehicles may choose to follow in the future," said Unlisted Manager Bruce Cossill.

St John Balanced Property Fund owns three major commercial properties in Whangarei and Auckland and produced a $311,234 profit before tax and asset revaluations for the year to 31 March 2009.

"We are pleased to deliver to shareholders a transparent and arms-length secondary market trading mechanism. The directors are in no doubt that our shareholders will benefit greatly from having access to a visible secondary market which will provide the means for a more liquid market in those shares to develop," said Managing Director of the Manager of the Fund Kevin Podmore.

"The Manager recognises the value to investors of being able to see market prices for their shares and to have a simple and effective trading option. We look forward to working with Unlisted to deliver solutions that benefit our shareholders," says Podmore.

View Unlisted data on ShareChat here.

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