Centuria Capital Group (ASX:CNI or Centuria) announces:
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Centuria is to make a takeover offer to acquire one of New Zealand’s largest listed real estate funds management platforms, Augusta Capital Limited for NZ$180 million (A$174 million)
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If successful, Centuria AUM to increase by A$1.9 billion to A$9.2 billion representing a 26% increase
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Augusta shareholders will be offered NZ$2.00 per share (adjusted for distributions) in either cash or Centuria scrip via a “Mix and Match” facility
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Augusta shareholders holding 36.2% of Augusta (including the two founders/key executives) have entered into pre bid lock up agreements and have agreed to accept the Offer
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Centuria to fund the transaction from existing cash reserves, scrip and the net proceeds of a $60 million equity raising at A$2.34 per Centuria security
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FY20 EPS guidance of 12.5 cents per security
For more information, please download the attached PDF
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