Augusta Capital : 10/07/17- "Sale of Augusta House – confirmation of settlement date""

NZX Release 10 July 2017 Sale of Finance Centre - confirmation of settlement date for Augusta House

Augusta Capital is pleased to confirm that the subdivision of the Finance Centre is now complete and new titles have been issued for the four parts of the Finance Centre (Augusta House, Podium Retail, Finance Centre Podium and Finance Centre Carpark).

The settlement date for the sale of Augusta House has therefore been confirmed as 24 July 2017. The settlement dates for the remaining three properties have not changed and are:

• Podium Retail: 1 April 2018;

• Finance Centre Podium: 1 April 2019;

• Finance Centre Carpark: 1 April 2019.

The purchase price for Augusta House is $30,000,000 with a deposit of $3 million having previously been paid by the Purchaser. Augusta can also confirm that the purchaser has paid the additional 10% deposits that were due in June 2017.

While the delay in finalising the subdivision of the Finance Centre has been frustrating, Augusta has continued to receive all rent during this period and the settlement dates of the remaining three titles have not been affected.

The proceeds will be applied towards debt repayment with $10 million towards core debt and $17 million toward the facility drawn down for the underwrite of the 33 Broadway syndicate. As a result of this debt repayment, balance sheet capacity for future initiatives is increased.

A further announcement will be made confirming when settlement has occurred.

ENDS

For further information please contact: Mark Francis

Managing Director Augusta Capital

AUGUSTA CAPITAL LIMITED AUCKLAND

Level 2, Bayleys House 30 Gaunt Street Wynyard Quarter

PO Box 37953 Parnell, Auckland 1151

Phone: [phone]

Fax: [phone]

NEW PLYMOUTH

335 Devon Street East P O Box 44

New Plymouth 4340

Phone: [phone]

Fax: [phone]

www.augusta.co.nz