Cedar Woods Properties Limited (ASX:CWP) has announced the activation of its Dividend Reinvestment Plan (DRP) and Bonus Share Plan (BSP) for the final fully franked dividend of 19 cents per share for the year ended 30 June 2025, payable on 31 October 2025. Cedar Woods is a diversified property group with a track record of creating sustainable, master-planned communities. The company specialises in residential and commercial developments across Australia.
The DRP/BSP issue price has been set at $7.42 per share, reflecting a 2.5% discount to the volume weighted average price of Cedar Woods shares sold on the ASX over the eight-day trading period ending 10 October 2025. Shares will be issued under the DRP and BSP on the dividend payment date, 31 October 2025. Participation in the DRP and BSP is optional for shareholders registered as of the record date, 2 October 2025. Shareholders can find the DRP and BSP rules on the company’s investor website. Eligible shareholders wishing to participate or change their existing elections must do so by 5:00 PM (Sydney time) on 17 October 2025.
Cedar Woods has also entered into a fully underwritten agreement with Euroz Hartleys, Bell Potter, and Shaw and Partners. The underwriters will subscribe for any shortfall shares in their respective proportions of 33.33% each. The company intends to use the funds raised to support its ongoing acquisition strategy. Chairman William Hames has confirmed his full participation in the DRP/BSP for all eligible shares held by him and his closely related parties.
Details of the underwriting agreement, including potential termination events and fees, are available in Annexure A of the company’s announcement. The underwriting fee is 3.0% of the underwritten amount, excluding GST. The events that could lead to the termination of the underwriting agreement include ASIC action, ASX action, an event of insolvency, alteration of capital structure, market fall, and adverse regulatory or geopolitical events.
