2021 Dexus Simplification

2021 Dexus Simplification

On 22 April 2021 Dexus Funds Management Limited as Responsible Entity of the Dexus Diversified Trust (“DDF”), Dexus Industrial Trust (“DIT”), Dexus Office Trust (“DOT”) and Dexus Operations Trust (“DXO”) (together known as “the Dexus Trusts”), held an Extraordinary General Meeting where Dexus Security holders approved changes to simplify the Dexus corporate structure (the “Simplification”).

The Simplification involves “top-hatting” each of DDF, DIT and DOT with a newly established trust called Dexus Property Trust (“DPT”) to form a dual stapled group comprising DXO and DPT. Details relating to the Simplification were outlined in the Explanatory Memorandum and Notice of Extraordinary General Meeting dated 23 March 2021 provided below.

Class Ruling and Stamp duty determinations

Prior to proceeding with the Simplification, Dexus was seeking determinations in respect of stamp duty payable and a Class Ruling from the Australian Tax Office to confirm that CGT scrip-for-scrip rollover relief was available to Australian resident Security holders. Dexus now confirms that the stamp duty determinations have been received. A description of the tax implications for Security holders will be provided below.


The consolidated constitutions for each Dexus Trust are available at www.dexus.com/corporategovernance

Simplification timetable

The Simplification will be implemented in accordance with the below timetable.



Last day of trading in existing Dexus Stapled Securities on the ASX.

Wednesday, 30 June 2021

Admission of units in DPT to official list of the ASX (to trade as part of the New Stapled Securities).

New Stapled Securities commence trading on the ASX (on a deferred settlement basis).

Thursday, 1 July 2021

Stapling Record Date

Last day for registration of transfers of existing Dexus Stapled Securities.

Friday, 2 July 2021

Any existing Dexus Stapled Securities held by Ineligible Foreign Security holders transferred to the sale nominee.

Monday, 5 July 2021

Implementation Date

  • DPT units received by Security holders
  • Units in DDF, DIT and DOT transferred to DPT
  • Stapling of units in DXO and units in DPT to form New Stapled Securities
  • Despatch of holding statements of New Stapled Securities

Tuesday, 6 July 2021

New Stapled Securities commence trading on the ASX (on a normal settlement basis (T+2)).

Wednesday, 7 July 2021

DDF, DIT and DOT to be removed from official list of the ASX on this day or a subsequent day.

Thursday, 8 July 2021

If you require assistance in regards to your Security holding, please contact Dexus’s Information Line on
+61 1800 819 675.

2021 Explanatory Memorandum

Tax implications

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