DNZ Trading Halt of Securities

DNZ Trading Halt of Securities

DNZ Trading Halt of Securities 22/05/2013

DNZ Property Fund Limited (DNZ) announced today that it has requested that NZX place a trading halt on its shares while DNZ is undertaking a bookbuild process for a placement of up to $60 million of DNZ shares to certain institutional investors and other eligible persons under the Securities Act 1978.

 
DNZ has requested the trading halt remain in place from the market opening time on 22 May 2013 until an announcement is made with respect to the pricing of the placement.

NZX Regulation has advised DNZ that it will grant the requested trading halt.
 


 
For Further Information Please Contact:
Tim Storey, Chairman, DNZ Property Fund Limited
Mobile: 021 633 089 – Email: [email protected]

Paul Duffy, Chief Executive, DNZ Property Fund Limited
DDI: 09 913 1154 – Mobile: 021 843 758 – Email: [email protected]

DNZ Property Fund Overview
DNZ Property Fund Limited owns one of New Zealand’s largest diversified investment property portfolios with commercial office, retail and industrial properties located in the main urban areas throughout New Zealand. As at 31 March 2013, DNZ Property Fund owned 48 properties with 258 tenants, a weighted average lease term of 5.2 years and an occupancy rate of 99.6% over a net lettable area of 354,502m².

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 31 March 2013: Bunnings, Fletcher Building, NZ Government, Progressive Enterprises (Countdown), Foodstuffs (PAK’nSAVE & New World), ASB, Westpac, Meridian Energy, Lion and Mitre 10. These 10 tenants represent 52% of the Company’s total contract rental.

DNZ Successful Completion of $60 Million Placement
DNZ Delivers 119% Lift in Net Profit after Income Tax