DGAP-Ad-hoc: Dexus Finance Pty Limited / Key word(s): Corporate Action
Dexus Finance Pty Limited: Simplification implementation and timetable
22-Jun-2021 / 02:41 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Dexus (ASX: DXS)
ASX release
22 June 2021
Simplification implementation and timetable
On 22 April 2021 Dexus Funds Management Limited as Responsible Entity of the Dexus Diversified Trust ("DDF"), Dexus
Industrial Trust ("DIT"), Dexus Office Trust ("DOT") and Dexus Operations Trust ("DXO") (together known as "the Dexus
Trusts"), held an Extraordinary General Meeting where Dexus Security holders approved changes to simplify the Dexus
corporate structure (the "Simplification").
The Simplification involves "top-hatting" each of DDF, DIT and DOT with a newly established trust called Dexus Property
Trust ("DPT") to form a dual stapled group comprising DXO and DPT. Details relating to the Simplification were outlined
in the Explanatory Memorandum and Notice of Extraordinary General Meeting dated 23 March 2021.
Prior to proceeding with the Simplification, Dexus was seeking determinations in respect of stamp duty payable and a
Class Ruling from the Australian Tax Office to confirm that CGT scrip-for-scrip rollover relief was available to
Australian resident Security holders. Dexus now confirms that the stamp duty determinations have been received. A
description of the tax implications for Security holders will be made available at www.dexus.com/Simplification
Consequently, the Board of Dexus Funds Management Limited has determined that the Simplification continues to be in the
best interests of Security holders and will now be implemented.
Dexus intends to implement the Simplification in accordance with the following timetable:
Event Date
Last day of trading in existing Dexus Stapled Securities on the ASX. Wednesday, 30 June
2021
Admission of units in DPT to official list of the ASX (to trade as part of the New Stapled Thursday, 1 July
Securities). 2021
New Stapled Securities commence trading on the ASX (on a deferred settlement basis).
Stapling Record Date Friday, 2 July 2021
Last day for registration of transfers of existing Dexus Stapled Securities.
Any existing Dexus Stapled Securities held by Ineligible Foreign Security holders transferred to Monday, 5 July 2021
the sale nominee.
Implementation Date Tuesday, 6 July 2021
. DPT units received by Security holders
. Units in DDF, DIT and DOT transferred to DPT
. Stapling of units in DXO and units in DPT to form New Stapled Securities
. Despatch of holding statements of New Stapled Securities
New Stapled Securities commence trading on the ASX (on a normal settlement basis (T+2)). Wednesday, 7 July
2021
DDF, DIT and DOT to be removed from official list of the ASX on this day or a subsequent day. Thursday, 8 July
2021 Ineligible Foreign Security holders
In accordance with the terms of the Simplification, any Ineligible Foreign Security holders will not receive New Stapled Securities but will instead receive the proceeds from the sale of the New Stapled Securities which they would have otherwise received (net of brokerage costs, any fees and taxes and subject to rounding). Ineligible Foreign Security holders will receive payment as soon as practicable after settlement of the sale by the sale nominee.
Constitutions
As a result of the Board determining to proceed to implement the Simplification, amendments to the constitutions of each of DDF, DIT, DOT and DXO have now been lodged with ASIC and have become effective. Consolidated constitutions for each trust are available at www.dexus.com/corporategovernance.
Authorised by the Board of Dexus Funds Management Limited For further information please contact:
Investors Media Rowena Causley Louise Murray Senior Manager, Investor Relations Senior Manager, Corporate Communications +61 2 9017 1390 +61 2 9017 1446 +61 416 122 383 +61 403 260 754 rowena.causley@dexus.com louise.murray@dexus.com ----------------------------------------------------------------------------------------------------------------------- Information and Explanation of the Issuer to this News:
About Dexus
Dexus is one of Australia's leading real estate groups, managing a high-quality Australian property portfolio valued at USD36.5 billion. We believe that the strength and quality of our relationships will always be central to our success and are deeply committed to working with our customers to provide spaces that engage and inspire. We invest only in Australia, and directly own USD15.5 billion of office, industrial and healthcare properties. We manage a further USD21.0 billion of office, retail, industrial and healthcare properties for third party clients. The group's USD11.5 billion development pipeline provides the opportunity to grow both portfolios and enhance future returns. Dexus is a Top 50 entity by market capitalisation listed on the Australian Securities Exchange (trading code: DXS) and is supported by more than 29,000 investors from 24 countries. With 36 years of expertise in property investment, development and asset management, we have a proven track record in capital and risk management, providing service excellence to tenants and delivering superior risk-adjusted returns for investors. www.dexus.com
Dexus Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for Dexus (ASX: DXS) Level 25, 264 George Street, Sydney NSW 2000 -----------------------------------------------------------------------------------------------------------------------
22-Jun-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------
Language: English
Company: Dexus Finance Pty Limited
264 George Street
2193 Sydney
Australia
Phone: +61 2 9017 1100
Fax: +61 2 9017 1101
E-mail: ir@dexus.com
Internet: www.dexus.com
ISIN: XS1961891220
WKN: A2RZHG
Listed: Regulated Unofficial Market in Frankfurt
EQS News ID: 1210376
End of Announcement DGAP News Service
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June 21, 2021 20:42 ET (00:42 GMT)
