VHP - Retail offer opens

Tuesday 3rd May 2022

NorthWest Healthcare Properties Management Limited (the Manager), as manager of Vital Healthcare Property Trust (Vital), advises that the retail entitlement offer component of the Offer (the Retail Entitlement Offer) opens today at 10.00am (NZ time) for eligible retail Vital unitholders.

Eligible retail unitholders are unitholders recorded on Vital's register as at 5.00pm (NZ time) on Friday, 29 April 2022 that:

a) have an address recorded in Vital's register that is in New Zealand; and

b) are not in the United States and are not acting for the account or benefit of a person in the United States; and

c) who the Manager otherwise reasonably determines may be treated as an eligible retail unitholder; and

d) are not institutional investors (as defined in the Offer Document).

Eligible retail unitholders will be able to subscribe for 1 new unit for every 8.54 existing Vital units held as at 5.00pm (NZ time) on Friday, 29 April 2022, at an offer price of $2.95 per new unit (Offer Price).

Eligible retail unitholders may apply for up to their pro rata allocation of new units at the Offer Price and in accordance with the terms set out in the Offer Document, without incurring brokerage or other transaction costs.

In addition, eligible retail unitholders who take up their entitlement in full can apply for additional new units (i.e. units in excess of their pro rata entitlement) that will be offered for sale in the Retail Bookbuild (described below). The price for any such additional new units will be the clearing price of the Retail Bookbuild (which may be more than the Offer Price, but will not be more than the volume weighted average price on the last trading day immediately prior to the Retail Bookbuild).

Full details of the Retail Entitlement Offer are contained in the Offer Document, which is available online at www.vitalunitoffer.co.nz.

New units representing entitlements not taken up by eligible retail unitholders under the Retail Entitlement Offer or entitlements attributable to ineligible retail unitholders will be offered to for sale through a bookbuild conducted by Craigs Investment Partners Limited and Forsyth Barr Limited on Monday, 16 May 2022 (the Retail Bookbuild). Institutional investors and brokers will be invited to participate in the Retail Bookbuild. In addition, any applications from eligible retail unitholders who have taken their entitlements in full and applied for additional new units (i.e. units in excess of their pro rata entitlement) under the Offer will be included in the Retail Bookbuild.

Retail unitholders who do not take up their entitlements in full or who are ineligible to participate will receive a pro rata share of any premium achieved above the application price for their unexercised entitlements in the Retail Bookbuild. There is no guarantee that a premium will be achieved.

The new units issued will rank equally with existing Vital units on issue and will be eligible for future distributions.

Eligible retail unitholders that wish to take up their entitlement (in full or in part) under the Retail Entitlement Offer (and for those who take up their entitlement in full, who wish to apply for additional new units under the Retail Bookbuild) can apply online at www.vitalunitoffer.co.nz until 5.00pm (NZ time) on Thursday, 12 May 2022.

Refer to full release for full dates for the offer and bookbuild.

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 Offer at any time prior to the issue of the units under the Offer at its absolute discretion.

For further information in respect of the Offer, please refer to the capital raising presentation and Offer Document released to the NZX on Thursday, 28 April 2022 and available at www.vitalunitoffer.co.nz. If you have any questions about the Offer, please visit the Offer website at www.vitalunitoffer.co.nz or call the Vital Investor Information Line on 0800 650 034 (toll free within New Zealand) from 8.30am to 5.00pm Monday to Friday (excluding public holidays), or contact your financial adviser or other professional adviser.

– ENDS –

Retail Entitlement Offer opens

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