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Settlement of Internalisation
NZX RELEASE
13 December 2013
Settlement of Internalisation
Kiwi Income Property Trust is pleased to announce that the internalisation of the Trust’s management has settled. Accordingly, with effect from today, the Trust is managed by Kiwi Property Management Limited (formerly named Kiwi Property Management (NZ) Limited), a newly established company controlled by Unit Holders. Existing staff have now commenced employment with the new manager.
The net internalisation payment of $70.5 million (plus GST where applicable) has been funded through the Trust’s committed bank debt facilities, which have been increased by $25 million to $875 million.
ENDS
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