Vital rights offer successfully closed

Vital Healthcare Property Trust (‘Vital’) advises that the 2-for-9 pro rata renounceable rights offer, announced on 21 June 2016, was successfully closed yesterday at 5pm.

In accordance with the terms of the Offer Document for the Rights Offer, 76,890,712 New Units are to be issued. Of this 67,252,561 New Units were taken up by unitholders, representing approximately 87% of the New Units available under the Rights Offer and gross proceeds of approximately $139.9m. The balance of units not subscribed for under the offer of approximately $20.0m will be allocated to the Underwriter.

The New Units taken up under the Rights Offer will be allotted and begin trading on the NZX Main Board on 25 July 2016. Holding statements are expected to be mailed to unitholders on 1 August 2016.

Graeme Horsley, Independent Chairman of the Manager said “The Board is extremely pleased with the outcome of the Rights Offer, which provides further validation of Vital’s strategy and allows us to continue to pursue development, acquisition and growth opportunities. The Board wishes to thank all unitholders for their continued strong support.”

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