As part of the implementation of the next phase of strategic initiatives announced at the time of the merger and creation of the FSREC Property Fund (Fund), E&P Investments Limited (ABN 78 152 367 649 | AFSL 410 433), as Responsible Entity for the Fund, is pleased to announce it has entered into conditional placement agreements with ISPT Pty Ltd (ACN 064 041 283)(ISPT) as trustee for the ISPT Retail Australia Property Trust (FSREC Fund) and Tarawa Pty Ltd (ACN 117 800 736) in respect of proposed placements and investments in the Fund (Proposal). ISPT is an Australian unlisted property fund manager investing on behalf of some of Australia’s largest industry superannuation funds.
The proposed placements will in aggregate comprise a minimum $240 million and a maximum $330 million investment into the Fund. In connection with the proposed placement the Responsible Entity will open a withdrawal offer for a minimum of $240 million and maximum of approximately $330 million to be funded by proceeds of the placements. The proposed placements will be subject to the minimum $240 million withdrawal amount being met and to stapled securityholder approval of changes to Fund constitutions, with approval to be sought at a stapled securityholder meeting.
You will also be able to access your personalised materials in the coming days by logging onto the registry’s website, www.investorserve.com.au. Please read the meeting materials in full.