Investor Presentaiton
Glossary of terms
Investec
Australia Property Fund
Term
Property
Council
Guidelines
Proposal
REIT
Resolution
Responsible
Entity
Seller
Meaning
Version 2 of the Property Council of Australia's "Voluntary Best Practice
Guidelines for Disclosing FFO and AFFO", published in December 2017 and
available at www.propertycouncil.com.au.
A proposal (as described in the Explanatory Memorandum) to:
internalise the management functions of IAPF by creating an internally
managed stapled group;
assume the management rights of the TAP Fund and certain assets of the
Investec Group; and
invest in the TAP Fund via the TAP Commitment.
The key elements of the Proposal are set out in Section 2.2 of the Explanatory
Memorandum.
Real estate investment trust.
The resolution set out in the Notice of Meeting that is required to be approved by
Unitholders at the Meeting in order to implement the Proposal.
Investec Property Limited (ACN 071 514 246, AFSL 290909) (in its capacity as
the responsible entity of IAPF I and/or IAPF II, as the context requires).
Investec Bank plc (registration number 00489604), a company registered in
England and Wales which is ultimately wholly owned by Investec plc.
Stapled
Security
A stapled security comprising one IAPF I Unit and one IAPF II Unit, stapled
together as a result of the implementation of the Proposal, so that one may not
be transferred or otherwise dealt with without the other.
The stapling of the IAPF I Units to the IAPF II Units to form the IAPF Group, such
that the securities cannot be traded separately.
Stapling or
Stapled
Stapling Record
Date
The date allocated by the Responsible Entity to determine which Unitholders are
eligible to receive the distribution of the IAPF II Units for each IAPF I Unit they
hold in IAPF I, expected to be Wednesday, 25 November 2020.
Investec Australia Property Fund | Internalisation and funds management proposal
Term
Sub Trustee
Sub Trusts
Superior
Proposal
TAP
Commitment
Meaning
Investec Propco Pty Limited (ACN 161 587 186) (in its capacity as trustee of
each of the Sub Trusts), which as at the date of this presentation is ultimately
wholly owned by Investec plc.
Investec Australia Sub Trust No. 1, Investec Australia Sub Trust No. 2,
Investec Australia Sub Trust No. 3, Investec Australia Sub Trust No. 4,
Investec Australia Sub Trust No. 5, Investec Australia Sub Trust No. 6,
Investec Australia Sub Trust No. 7, Investec Australia Sub Trust No. 8,
Investec Australia Sub Trust No. 9, Investec Australia Sub Trust No. 10,
Investec Australia Sub Trust No. 11, Investec Australia Sub Trust No. 12,
Investec Australia Sub Trust No. 13, Investec Australia Sub Trust No. 14,
Investec Australia Sub Trust No. 15, Investec Australia Sub Trust No. 16,
Investec Australia Sub Trust No. 17, Investec Australia Sub Trust No. 18,
Investec Australia Sub Trust No. 19, Investec Australia Sub Trust No. 20,
Investec Australia Sub Trust No. 21, Investec Australia Sub Trust No. 22,
Investec Australia Sub Trust No. 23, Investec Australia Sub Trust No. 24, and
any other subsidiary trust of Hold Trust created to hold assets of IAPF I,
including the Properties.
A bona fide Competing Proposal which the Independent Directors have
determined, in good faith after consultation with their external professional
advisors, is in their reasonable opinion:
•
reasonably capable of being completed, taking into account all aspects of
the Competing Proposal and the person making it; and
more favourable to Unitholders (as a whole) than the Proposal, taking into
account all the terms and conditions of the Competing Proposal.
A $30 million commitment to invest in the TAP Fund.
13View entire presentation