Unit Purchase Plan opens

NorthWest Healthcare Properties Management Limited (the Manager), as manager of Vital Healthcare Property Trust (Vital), is pleased to announce the opening of its $25m unit purchase plan (UPP). The UPP forms part of Vital’s $140m capital raising announced on 13 October 2021, whereby Vital also undertook an underwritten $115m placement of new units (Placement).

The UPP is open to Vital unitholders recorded on Vital’s register as at 5.00pm (NZ time) on 12 October that:
a) have an address in New Zealand; and
b) are not acting for the account or benefit of a person who resides outside New Zealand.

Eligible unitholders will receive their personalised application forms to apply for up to a maximum of $15,000 of new units per unitholder at an issue price equal to the lower of:
a) $2.90 per new unit (being the same issue price as the Placement undertaken on 13 October 2021); and
b) a 2.5% discount to the volume weighted average price of Vital units traded on the NZX during the five trading days up to, and including, the end of the UPP offer period.

The Manager has the ability to accept additional applications at its discretion, and if scaling of the UPP is required, applications will be scaled having regard to existing units at 5.00pm NZ time on 12 October 2021 (being the Record Date for the UPP).

The new units issued will rank equally with existing Vital units on issue and will be eligible for the FY22 first quarter distribution payable in December.
Unitholders can apply online at www.vitalunitoffer.co.nz until 5.00pm (NZ time) on Wednesday, 3 November 2021. The UPP offer document can be found at www.vitalunitoffer.co.nz.

Record Date: 5.00pm NZ time, 12 October 2021

Announcement of the capital raising: 13 October 2021

Unit Purchase Plan Opening Date: 19 October 2021

Entitlement letter sent to eligible unitholders: 19 October 2021

Unit Purchase Plan Closing Date (last time for online applications): 5.00pm NZ time, 3 November 2021

Unit Purchase Plan issue price announced: 4 November 2021

Allotment of new units under the Unit Purchase Plan and commencement of trading: 10 November 2021

These dates are subject to change and are indicative only. The Manager reserves the right to alter the key dates, subject to applicable laws and the NZX Listing Rules. The Manager reserves the right to withdraw the unit purchase plan at any time prior to the issue of the units under the unit purchase plan at its absolute discretion.

– ENDS –


Aaron Hockly
Fund Manager, Vital Healthcare Property Trust
Tel 09 973 7301, Email aaron.hockly@nwhreit.com

Michael Groth
Chief Financial Officer, NorthWest Healthcare Properties Management Limited
Tel +61 409 936 104, Email michael.groth@nwhreit.com

About Vital (NZX code VHP):

Vital Healthcare Property Trust is an NZX-listed fund that invests in high-quality healthcare properties in New Zealand and Australia including private hospitals (~85% of portfolio value), ambulatory care (~10% of portfolio value) and aged care (~5% of portfolio value).

Vital is the leading specialist listed landlord of healthcare property in Australasia and currently has a portfolio valued at over $2.6 billion.

Vital is managed by NorthWest Healthcare Properties Management Limited, a subsidiary of Toronto Stock Exchange listed NorthWest Healthcare Properties REIT, a global owner and manager of healthcare property.

For more information, visit our website: www.vhpt.co.nz

UPP Opens 217kb Download
UPP Offer Document 2055kb Download
UPP Letter 91kb Download