Vital Healthcare Property Trust (NZX: VHP) Announces Successful Completion of $115m Placement

Thursday 14th October 2021

NorthWest Healthcare Properties Management Limited (the Manager), as manager of Vital Healthcare Property Trust (Vital), advises that it has successfully completed the $115m placement of new units (the Placement), which forms part of the $140m capital raising announced on 13 October 2021 (the Offer).

The Placement was underwritten at a fixed price of $2.90 per unit, representing a 3.7% discount to the closing price of $3.01 on 12 October 2021. Existing unitholders that participated in the Placement were given priority to obtain a pro rata allocation.

Vital's Fund Manager, Aaron Hockly, said “We are delighted with the outcome of the placement, which was well supported by existing institutional unitholders and broker firm clients. The capital raising provides Vital with the funding to support the acquisition of The Tennyson Centre, one of Adelaide's leading "Cancer Centres of Excellence" and a quality addition to our portfolio."

Settlement and allotment of the new units issued under the Placement is expected to occur on 20 October 2021.

Forsyth Barr Group Limited and Goldman Sachs New Zealand Limited acted as underwriters of the Placement.

The Unit Purchase Plan opens on Tuesday, 19 October 2021

Eligible unitholders will receive their personalised application forms to apply for up to $15,000 of new units in the unit purchase plan (the UPP) component of the Offer from Tuesday, 19 October 2021. Unitholders can apply online at www.vitalunitoffer.co.nz until 5.00pm (NZ time) on Wednesday, 3 November 2021.

Record Date: 5.00pm NZ time, 12 October 2021

Announcement of Offer: 13 October 2021

Unit Purchase Plan Opening Date: 19 October 2021

Entitlement letter sent to eligible unitholders: 19 October 2021

Unit Purchase Plan Closing Date (last time for online applications, or for receipt of an Application Form by Computershare, with payment): 5.00pm NZ time, 3 November 2021

Unit Purchase Plan issue price announced: 4 November 2021

Allotment of new units under the Unit Purchase Plan and commencement of trading: 10 November 2021

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 unit purchase plan at any time prior to the issue of the units under the unit purchase plan at its absolute discretion.

For further information in respect of the Placement and UPP, please refer to the capital raising presentation released to the NZX on 13 October 2021.

Please see the link below for details

Vital announces successful completion of $115m Placement

Source: Vital Healthcare Property Trust

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