General Announcement::Settlement of The Entertainment Quarter, NSW

Issuer & Securities

Issuer/ Manager
COMMONWEALTH MANAGED INVESTMENTS LIMITED
Securities
NOVION RE A$300M5.75%C160704 - XS0641119812 - 4XMB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
22-Dec-2014 14:00:17
Status
New
Announcement Sub Title
Settlement of The Entertainment Quarter, NSW
Announcement Reference
SG141222OTHR8AH8
Submitted By (Co./ Ind. Name)
Michelle Brady
Designation
Company Secretary
Effective Date and Time of the event
22/12/2014 17:00:00
Description (Please provide a detailed description of the event in the box below)
Novion Property Group (Novion or the Group) announces that the sale of The Entertainment Quarter, NSW has settled, post approval of the transaction by the ground lessor and the Crown.

The asset was held 50 per cent on Novion s balance sheet and 50 per cent in Novion Retail Partnership and was sold for the agreed price of $80 million as announced on 4 June 2014. The Group s $40 million share of proceeds will be used initially to repay bank debt.

Attachments

141222_ASX_SettlementofEQFinal.pdf
Total size =143K