03 Jun 2019

Dexus announces successful completion of Security Purchase Plan

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

3 June 2019

Dexus announces successful completion of Security Purchase Plan

Dexus Funds Management Limited as responsible entity of Dexus (“Dexus”) refers to its announcements
made to the Australian Securities Exchange (“ASX”):

− on 2 May 2019, relating to a fully underwritten $900 million institutional placement (“Institutional Placement”), and a non-underwritten Security Purchase Plan (“SPP”) to eligible Dexus Security holders in Australia and New Zealand to raise up to $50 million and
− on 8 May 2019, relating to the despatch of the SPP booklet to eligible Dexus Security holders in Australia and New Zealand.

Dexus Funds Management Limited as responsible entity for Dexus confirms the successful completion of the SPP following the closing of the SPP offer at 5pm (Sydney time) on 29 May 2019.

The SPP closed oversubscribed raising approximately $63.9 million. As permitted under clause 3.7 of the terms of the SPP, Dexus has decided to increase the $50 million cap on securities issued under the SPP to allow for all valid applications to be satisfied.

The issue and allotment of the new securities (“New Securities”) will occur on Wednesday, 5 June 2019 at an issue price of $12.10 per security (“Issue Price”). The Issue Price is the same price paid by institutional investors under the Institutional Placement completed on 3 May 2019.

The New Securities will rank equally with existing fully paid Securities and will carry the same voting rights and entitlement to receive distributions, including the full distribution for the six months ending 30 June 2019.

The SPP offer was sent to 26,774 eligible Security holders and valid applications totalling approximately $63.9 million were received from approximately 4,640 Security holders. This represents a participation rate for those eligible Security holders of 17.3% and an average application worth $13,800.

Holding statements will be issued to eligible applicants on Thursday, 6 June 2019.

In relation to the A$425 million Guaranteed Exchangeable Notes issued 19 March 2019 (“Notes”), Dexus advises that the issue and allotment of new Dexus Stapled Securities under the SPP will not result in an adjustment to the exchange price of the Notes.

 

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