The Distribution Reinvestment Plan (the "DRP") allows eligible unitholders who elect to participate to reinvest all or a portion of their distribution entitlements in additional units in the Trust. Units are allocated free of brokerage and other costs.
Units may be allocated at a discount to the market price at a level, if at all, determined by the directors. In the past, the discount has ranged between 0 and 2.5 per cent.
In addition to providing unitholders with flexibility in receiving their distribution entitlement, the DRP also provides the Trust with a means of raising capital on a regular basis to fund new acquisitions and developments or to pay off existing debt.
The DRP is optional and is open to all unitholders in the Trust except those who are resident in or subject to laws of any country in which allocating units under the DRP would be unlawful or make it impractical, in the opinion of the Directors, for the DRP to be offered to them. The Directors have resolved that it is impractical to offer the DRP to unitholders other than those whose addresses are in Australia or New Zealand.
The number of units that a DRP participant will receive is determined by dividing the DRP participant's cash distribution payable by the DRP unit price (as determined under the DRP rules). Where the number of units to be allocated is not a whole number, the number of units will be rounded down to the nearest whole number. Any remaining fraction shall be reinvested in the Trust for the benefit of all unitholders.
Prices of units allocated under the DRP can be found in the Distributions Information table.
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