33 Broadway, Newmarket development – conditions satisfied

NZX RELEASE 28 March 2017 33 Broadway, Newmarket development - all conditions satisfied On 22 December 2016, Augusta Capital Ltd announced the entry into a development agreement with Mansons Broadway Limited to acquire the current development at 33 Broadway, Newmarket, Auckland, subject to certain conditions. Mercury Energy will be the anchor tenant, occupying over half the development with Tegel Foods now also confirmed as an office tenant. Augusta is pleased to confirm that all conditions have been satisfied and the agreement is now unconditional. Augusta's wholly owned subsidiary, Augusta Funds Management Limited, will raise $83.5 million of equity through a unit trust to be established to acquire the property. Augusta Capital will underwrite $33.5 million of the capital raising with other parties underwriting the balance of the capital raising. A product disclosure statement is currently being prepared and it is expected that the offer will be open for investment in mid-April 2017. Note: Augusta Funds Management Limited is considering making an offer of financial products in New Zealand. No money is currently being sought. No financial products can currently be applied for or acquired. The offer will be made in accordance with the Financial Markets Conduct Act 2013. -ENDS- For further information please contact: Mark Francis Managing Director End CA:00298927 For:AUG Type:ASSET Time:2017-03-28 09:53:05