Corporate Action: Recommend Participation in SCA Property’s Unit Purchase Plan

In order to fund the upcoming purchase of 10 shopping centres, Shopping Centres Australasia Property Group, or SCA Property, has undertaken a AUD 262 million institutional placement at AUD 2.32 per unit and is also undertaking a unit purchase plan, or UPP, raising up to a further AUD 50 million. Existing unitholders can subscribe for up to AUD 15,000 of additional new units with no brokerage or transaction costs. The price for each new SCA Property unit will be the lower of the institutional placement price of AUD 2.32 and a 2% discount to the 5-day weighted average price prior to the closing date, being Nov. 16, 2018, with a minimum price of AUD 2.25. SCA Property noted if the unit price lags the minimum price, the UPP may not proceed. Further details on the UPP will be contained in the offer booklet, to be released on Oct. 22, 2018.