ASX release
14 January 2014
DEXUS and CPPIB change in substantial holding for CPA
DEXUS Funds Management Limited and Canada Pension Plan Investment Board today lodged a change of interests of substantial holder notice in relation to their holding in Commonwealth Property Office Fund (CPA).
For further information please contact:
DEXUS Investor queriesDavid Yates T: +61 2 9017 1424
M: +61 418 861 047
E: david.yates@dexus.com
DEXUS Media queries Peter Brookes, CitadelT: +61 2 9290 3033
M: +61 407 911 389
E: pbrookes@citadelpr.com.au
CPPIB Media queriesCanada
Linda Sims
About DEXUS
T: +1 416 868 8695
E: lsims@cppib.com
CPPIB Media queriesAustralia
Nigel Kassulke, Cannings
T: +61 2 8284 9990
M: +61 407 904874
E: nkassulke@cannings.net.au
DEXUS Property Group (DEXUS) is one of Australia's leading real estate groups, investing directly in high quality Australian office and industrial properties. With over $13 billion of assets under management, DEXUS also actively manages office, industrial and retail properties located in key Australian markets on behalf of third party capital partners. DEXUS manages an office portfolio of over 900,000 square metres across Sydney, Melbourne, Brisbane and Perth and is one of the largest institutional owners of office buildings in the Sydney CBD, Australia's largest office market. DEXUS is a Top 50 entity by market capitalisation listed on the Australian Securities Exchange under the stock market trading code 'DXS' and is supported by more than 19,000 investors from 19 countries. With over 25 years of experience in commercial property investment, development and asset management, DEXUS has a proven track record in capital and risk management, providing service excellence to tenants and delivering superior risk-adjusted returns to investors. www.dexus.com
Download the DEXUS IR app to your preferred mobile device to gain instant access to the latest stock price, ASX Announcements, presentations, reports, webcasts and more.
DEXUS Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for DEXUS Property Group (ASX: DXS)
About Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London and Hong Kong, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2013, the CPP Fund totalled C$192.8 billion of which C$22.0 billion represents real estate investments. For more information about CPPIB, please visit www.cppib.com
Corporations Act 2001
Section 671B
Notice of change of interests of substantial holder
To Company Name/Scheme Commonwealth Property Office Fund ("CPA")
ACN/ARSN ARSN 086 029 736
1. Details of substantial holder (1)
604 15 July 2001
Name This notice is given by DEXUS Funds Management Limited ("DXFM"), as trustee of DEXUS Office Trust Australia and responsible entity of each of the trusts that comprise the DEXUS Property Group. The notice is given by DXFM on
behalf of itself and on behalf of each of its related bodies corporale ("DEXUS Subsidiaries") that are held by DXFM as an asset of the trusts that comprise the DEXUS Property Group
This notice is aIso given by Canada Pension Pian lnvestment Board ("CPPIB"), on behalf of itself and each of its related
bodies corporale.
ACN/ARSN (ilapplicable} ACN 060 920 783 for DXFM. N/A for CPPIB.
There was a change in the interests of the
substantial holder on --'-13'-'/--'1-'-/..:...2.:...01'-'4_ The previous notice was given lo the company on 13/1/2014 The previous notice was dated 13/1/2014
2. Previous and present voting power
The total number of votes attached to ali the voting shares in the company or voting interests in the scheme !haithe substantial holder or an associate (2) had a relevant interest (3) in when las!required, and when now required, lo give a substantial holding notice lo the company or scheme, are as follows:
Class of securities (4) | Previous notice | Present notice | ||
Class of securities (4) | Person's votes | Voting power (5) | Person's votes | Voting power (5) |
Fully paid units | 591,996,498 Units Note, CPPIB only has votes of351,176,212 Units. | 25.22% Note, CPPIB only has voting power of 14.96%. | 594,929,866 Units This includes the 350,000,000 ordinary units in CPA ("Units") arising under the arrangement set out in Annexure A to the Substantial Holder Notice lodged by DXFM on 25 July 2013 ("Arrangement"). lt also includes the 4,109,580 votes attaching lo Units in which DXFM has a relevant interest as a result of acceptances of DXFM's takeover bid ("DEXUS Offer''}. The remainder of DXFM's votes arise as a result of its association with Commonwealth Bank of Australia ("CBA") (see Substantial Holder Notice lodged by DXFM on 16 December 2013). Note, CPPIB only has votes of 354,109,580 Units because it is not an associate of CBA. | 25.35% Note, CPPIB only has voting power of 15.09% because ilis not an associate of CBA. |
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3. Changes In relevant interests
604 15 July 2001
Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was las!required to give a substantial holding notice lo the company or scheme are as follows:
Date o! change | Person w interest c DXFM a | hose relevant hanged | Nature of change (6) | Consideration given in relation to change (7) | Class and numberof securities affected | Person's votes affected |
13/1/2014 | Person w interest c DXFM a | nd CPPIB | Change arising as a result of acceptances of the DEXUS Offer. | $0.7745 cash and 0.4516 DEXUS Stapled Securities or $0.8496 cash and 0.3801 DEXUS Stapled Securities | 2,933,368 Units | 0.12% |
4. Present relevant interests
Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:
Holderof relevant interest | Registered holder of securities | Person entitled to be registered as holder (8) | Nature of relevant interest (6) | Class and numberof securities | Person's votes |
DXFM and CPPIB | In respect of the Units under the Arrangement, unknown. However, as far as DXFM and CPPIB are aware, DBA currently holds a relevant interest in 382,180,004 Units and DXFM may be taken to have a relevant interest in those Units by reason of the Arrangement (up to an interest of 350,000,000). Referto the substantial holder notice lodged by DBA and appearing on ASX on 4 December 2013 for further information about the registered holder of Units in which DBA has a relevant interest. | In respect of the Units under the Arrangement, unknown. Referto the substantial holder notice lodged by DBA and appearing on ASX on 4 December 2013 for further information about the person entitled to be registered as holder of Units in which DBA has a relevant interest. Note, DXFM has given a notice requiring delivery of Units under the Arrangement. Delivery of Units under that Arrangement has been postponed unti! 24 January 2014 (subject to further postponement). Accordingly, the obligation for DXFM to take, and the obligation !or DBA to make, delivery of Units under the Arrangement has arisen. | Neither DXFM nor CPPIB are the owner of Units. However, under section 608(8): - DXFM may be taken to have a relevant interest in Units by reason of the Arrangement; and - if DXFM had a relevant interest in those Units then CPPIB would also have a relevant interest in those Units by reason of the Joint Bid Agreement attached to the Substantial Holder Notice lodged with ASX by DXFM on 20 December 2013. | To the extent that section 608(8) confers the same relevant interest on DXFM as held by DBA as at 29 November 2013 (upto a maximumof 350,000,000 Units), DXFM and CPPIB had a relevant interest in 350,000,000 Units. | To the extent that section 608(6) confers the same relevant interest on DXFM as held by DBA as at29 November 2013 (up to a maximum of 350,000,000 Units), DXFM and CPPIB had a relevant interest in Units with voting power of 14.9%. |
DXFM | In respect of Units arising under acceptances of the DEXUS Offer, the holders of Units who have accepted the DEXUS Offer. | DXFM | Acquisitions arising !rom acceptances of the DEXUS Offer. | 4,109,580 Units | 0.18% |
DXFM | In respect of Units arising under acceptances of the DEXUS Offer, the holders of Units who have accepted the DEXUS Offer. | DXFM | Acquisitions arising !rom acceptances of the DEXUS Offer. | 4,109,580 Units | 0.18% |
CPPIB | In respect of Units arising under acceptances of the DEXUS Offer, the holders of Units who have accepted the DEXUS Offer. | DXFM | lnterest arising under the Joint Bid Agreement attached to the Substantial Holder Notice lodged with ASX by DXFM on 20 December 2013. | 4,109,580 Units | 0.18% |
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5. Changes in association
604 15 July 2001
The persons who have become associates (2) of, ceased lo be associates of, or have changed the nature of their association (9) with, the substantial holder in relation lo voting interests in the company or schema are as follows:
Name and ACN/ARSN (if applicable) Nature of association
N/A
6. Addresses
The addresses of persons named in this formare as follows:
Name | Address |
DXFM | Level25. Australia Square, 264-278 George Street. Sydney NSW 2000 |
CPPIB | One Queen Street East. Suile 2500, Toronto, Ontario, M5C 2W5, Canada |
Signature
print name David Friedlander capacity Attorney
sign here '- -- - · - · --;:;.;;;..;;;;; d;;.;a;.;;te;......;1 4/ 1/ 20;.;1 4--------------
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