ABACUS GROUP ASX ANNOUNCEMENT
Unmarketable Parcel Sales Facility
Abacus Property Group advises it is conducting an unmarketable parcel sales facility and provides a second notice that was distributed to eligible securityholders today.
Ellis Varejes
Company Secretary
Neil Summerfield
Head of Investor Relations
21 July 2015
21 July 2015
Dear Securityholder
SALE FACILITY FOR UNMARKETABLE PARCELS - SECOND NOTICE
Following our letter of 3 June 2015 ("First Notice"), this notice ("Second Notice") confirms that Abacus Property Group ("Abacus") intends to sell parcels of Abacus stapled securities worth $500 or less ("unmarketable parcels") through a sale facility it has established for this purpose ("Unmarketable Parcels Sale Facility") which securityholders have not indicated they wish to retain (by returning the Retention Form attached to the First Notice).
This Second Notice is given to Abacus securityholders who have not returned a Retention
Form.
The Abacus register records that you held an unmarketable parcel of Abacus stapled securities as at 29 May 2015 (i.e. 171 Abacus securities or less). Therefore, your holding will be sold under the Unmarketable Parcels Sale Facility unless you return to us the enclosed Retention Form by 15 August 2015 indicating that you wish to retain your Abacus securities.
Abacus will also give notice in a newspaper circulating generally in the area of each securityholder whose securities Abacus intends to sell through the Unmarketable Parcels Sale Facility.
What do I need to do?
The following options are available to you:
Dispose of your
stapled securities via
UNMARKETABLE PARCELS SALE
FACILITY
To dispose of your Abacus securities via the Unmarketable Parcels Sale Facility, do nothing. Your Abacus securities will be sold as soon as practicable after close of the opt out period for the Unmarketable Parcels Sale Facility on 15 August 2015.
Retain your stapled securities
If you wish to retain your unmarketable parcel of Abacus securities, you must complete the enclosed Retention Form and return it to the Abacus registry by 15 August
2015. Subject to the terms below, your unmarketable parcel will be sold if you do not return the Retention Form by this time.
Sale Process and Terms
Abacus will bear brokerage and handling costs for sales under the Unmarketable Parcels Sale
Facility.
Abacus has arranged for Shaw and Partners Limited ("Shaw" or "broker") to act as broker to effect these sales.
The price that will be paid for Abacus securities sold through the Unmarketable Parcels Sale Facility will be the volume weighted average price received by the broker for all securities sold through the facility. That price will be calculated by the broker.
The market price of Abacus securities is subject to change from time to time, and the proceeds remitted to a securityholder may be more or less than the actual price received by the broker.
If your Abacus securities are sold under the Unmarketable Parcels Sale Facility, we will hold the sale proceeds in a separate bank account and seek your payment instructions.
Change in the value of your holding
If the value of your Abacus securities increases (including so that your holding becomes a
'marketable parcel' of A$500 or more) Abacus may still sell your stapled securities as notified in this letter. However, Abacus reserves the right to determine that holdings of stapled securities that increase above a certain level will no longer be eligible to be sold under the Unmarketable Parcels Sale Facility.
Authority to implement the Unmarketable Parcels Sale Facility
As advised in the First notice, Schedule 1 of the Abacus constitutions allows Abacus to notify securityholders who hold less than A$500 worth of Abacus securities that it intends to sell their securities. The First Notice required by the Abacus constitutions was given on 3 June
2015. This is the Second Notice required by the Abacus constitutions.
If your stapled securities are in a CHESS holding and remain in a CHESS holding on 15 August
2015, and are to be sold under the Unmarketable Parcels Sale Facility, you should note that Abacus may, without further notice to you, sell your Abacus securities while they remain in your CHESS holding, and may initiate a holding adjustment to move those stapled securities to an issuer sponsored holding or a certificated holding for the purposes of that sale.
Important Notes
Please read the attached terms and conditions for the Unmarketable Parcels Sale Facility carefully as they contain important information.
Neither Abacus, Boardroom Pty Limited nor Shaw makes any recommendation or gives any advice to you regarding whether to permit your Abacus securities to be sold under the Unmarketable Parcels Sale Facility or retain them. If you are in any doubt about your options, please consult your financial adviser. Up-to-date information on the market price of Abacus securities is available from the ASX website (www.asx.com.au) under the code "ABP". A copy of the Financial Services Guide provided by the broker in relation to the Unmarketable
Parcels Sale Facility is available from Abacus' website (www.abacusproperty.com.au).
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If you have any questions regarding how the Unmarketable Parcels Sale Facility works, or you have a number of holdings that you wish to consolidate, please contact the registry, Boardroom Pty Limited, on 1300 139 440.
Yours faithfully
Abacus Property Group
Ellis Varejes
Company Secretary
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