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Friday, 12 December 2008 12:00 |
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Our office will be closed during the Christmas - New Year period from midday Wednesday 24 December 2008 until 8.30am Monday 5 January 2009. Should you have any urgent investor-related matters during that period, please contact Paul Rippon on 0416 219 488.
From all of us at Clarence Property, may we take this opportunity to wish you and your family a happy, safe and enjoyable Christmas and a healthy and prosperous New Year. |
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December 2008 Newsletter |
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Friday, 12 December 2008 00:00 |
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The December 2008 newsletter has now been sent to all unitholders. If you haven't received your copy you can download a copy from the website.
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Read more...
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Friday, 12 December 2008 00:00 |
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Much has been written in the press over the last twelve months about falling property values and whether unlisted property trusts (such as Westlawn Property Trust) are carrying their properties at over-inflated prices.
In our March 2008 newsletter we stated that "our conservative approach of not revaluing on too regular a basis (but at least every three years) will stand us in good stead if there is a market-wide decrease in values".
Given the market uncertainty, the directors have decided to have a number of the properties independantly valued (principally those not valued in the last 12 months). The following table sets out the results of the valuations received to date. Other properties also being revalued are Easy T Shopping Centre Robina, Ipswich City Plaza and Byron West Shopping Fair. We will report those valuations when they are received.
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Read more...
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Distribution Reinvestment Plan (DRP) discount |
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Thursday, 02 October 2008 10:44 |
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At the September Board meeting the Directors resolve to introduce a 5% discount on the price at which units are issued pursuant to the DRP. The discount will be effective from 1 October 2008 and will first apply to the October distribution paid in the following month (and accordingly to DRP units allotted on 1 December 2008). The unit price applicable to this first reinvestment will be $1.53 (i.e. current unit price of $1.61 x 95%). The discounted DRP unit price thereafter will be recalculated each month based on the monthly closing unit price, details of which will be updated on the website.
Any unit holders who would like to join the DRP, to download the distribution reinvestment form please click here >> |
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Capital Raising Closed |
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Tuesday, 30 September 2008 14:33 |
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At the September Board meeting the directors resolved to close the current capital raising, effective from close of business on 30 September 2008. Capital raised pursuant to the PDS dated 28 May 2007 and the SPDS dated 20 December 2007 totalled $22.8 million. A new capital raising will be considered by the Board during the first half of 2009.
Following the close of the capital raising should anyone be looking to acquire units, simply let us know and we will put you in touch with existing unit holders who may have units for sale. |
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