Argosy Property Limited · NZX:ARG
Argosy Property — Investor Presentation (July 2013)
9 slides from Argosy Property's investor presentation, Jul 1, 2013
Slide 1: Argosy Property Capital Raising Presentation
ARGOSY PROPERTY CAPITAL RAISING PRESENTATION 1 JULY 2013
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This presentation has been prepared by Argosy Property Limited. The details in this presentation provide general information only. It is not intended as investment or financial advice and must not be relied upon as such. You should obtain independent professional advi
Slide 3: Contents
CONTENTS Overview Summary of properties acquired Rationale for acquisitions Equity raising terms Entitlement offer structure Timetable 2
Slide 4: Overview
OVERVIEW The Company intends to raise a maximum of $86.9 million of equity, via a pro rata renounceable rights issue • Capital raised to repay bank debt incurred, and to be incurred, to complete the Purpose recent acquisitions of the Mangere Distribution Centre and the Vector Centre and to provide f
Slide 5: Summary of Properties Acquired
SUMMARY OF PROPERTIES ACQUIRED Mangere Distribution Centre Vector Centre Location: 80 Favona Rd, Mangere, Location: 101 Carlton Gore Road, Auckland Newmarket Property Type: Commercial Property Type: Industrial 2013 valuation: $22 million 2013 valuation: $74 million Passing Yield: 8.0% Passing Yield:
Slide 6: Rationale for Acquisitions
RATIONALE FOR ACQUISITIONS The two acquisitions are consistent with Argosy’s investment strategy of pursuing acquisitions that are accretive to shareholders: Total portfolio further diversified by rental income, number of tenants and properties “Core portfolio” enhanced from the acquisition of well-
Slide 7: Equity Raising Terms
EQUITY RAISING TERMS Entitlement Ratio 1 New Share for every 7 existing Shares, held at 5.00pm on 15 July Maximum New Shares 97,656,677 million (subject to rounding) to be issued Application Price $0.89 Offer discount 8.13% to TERP Maximum equity to be $86.9 million raised New Shares issued on compl
Slide 8: Entitlement Offer Structure
ENTITLEMENT OFFER STRUCTURE • Available to persons recorded on Argosy’s share register at 5.00pm on 15 July with a registered address in New Zealand (Eligible Shareholder) • Eligible Shareholders expected to be sent an Offer Document with a personalised Entitlement and Acceptance Form on 17 July Ent
Slide 9: Transaction Timetable
TRANSACTION TIMETABLE1 Announcement of the Offer 1 July 2013 Shares quoted “ex-entitlements” on the NZX Main Board 11 July 2013 Record Date 15 July 2013, 5.00pm Expected mailing of Prospectus, Entitlement and Acceptance 17 July 2013 Forms Rights Offer opens 17 July 2013 Rights trading ceases 29 July