Asset Plus FY22 Annual Report & Eastgate Settlement Update

NZX RELEASE
30 June 2022

Asset Plus FY22 Annual Report & Eastgate Settlement Update

Asset Plus (NZX:APL) is pleased to release its 2022 Annual Report. This follows the announcement on 19 May 2022 of the FY22 financial result.

Asset Plus also advises that it expects settlement of the sale of Eastgate to now occur in late July or early August due to delays with approval of the subdivision plan and obtaining third party consents. All outstanding matters have been resolved and the subdivision is currently being processed by LINZ with LINZ accepting Asset Plus’ request to process the e-dealing with urgency. Settlement is to occur 15 working days after the new titles have been issued.

While Asset Plus does have the ability to terminate the agreement and retain the deposit if the new titles do not issue by 1 July, Asset Plus does not currently intend to exercise that right given the issue of new titles is imminent and the purchaser has no right to withdraw from the contract. That termination right does not expire and Asset Plus reserves all rights in respect of it. Asset Plus will provide a further update when the new titles have issued, and the settlement date is confirmed.


-ENDS-

For further information please contact:

Mark Francis
CEO, Centuria NZ
Manager of Asset Plus
+64 9 300 6161

Simon Woollams
Asset Plus CFO, Centuria NZ
Manager of Asset Plus
+64 9 300 6161

Stephen Brown-Thomas
Asset Plus Fund Manager
Centuria NZ, Manager of Asset Plus
+64 9 300 6161

Matthew Butt
Head of Investor Relations
Centuria NZ, Manager of Asset Plus
+64 9 300 6161

---

Announcement PDF