24/10/2007 - 15:13

Westralia announces 9.7 cents distribution to unitholders

24/10/2007 - 15:13

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West Perth-based Westralia Property Trust Ltd has announced a distribution to unitholders of 9.7 cents per unit for the 2006-07 financial year, as it prepares for a strategic shift into the rural sector.

Westralia announces 9.7 cents distribution to unitholders

West Perth-based Westralia Property Trust Ltd has announced a distribution to unitholders of 9.7 cents per unit for the 2006-07 financial year, as it prepares for a strategic shift into the rural sector.

 

The text of a company announcement is pasted below

Westralia Property Trust (Trust) has announced a distribution of 9.7 cents per unit in relation to the year to 30 June 2007 which is payable on 15 November 2007 to all Unit Holders on the register as at the record date of 11 October 2007.

The directors of Westralia Property Management Limited (WPML), the responsible entity of the Trust would like to invite Unit Holders to participate in the distribution reinvestment plan (DRP) for the Trust which provides Unit Holders with a convenient way to increase their holdings in the Trust by reinvesting all, or part of their distribution in additional units.

Unit Holders should be aware that on 10 October 2007 the directors of WPML made an exciting announcement in relation to the future direction of the Trust as an agricultural land trust. A copy of the announcement is attached to this letter for your information.

By acquiring units through the DRP, Unit Holders acquire the units at a 2.5% discount to the market price and also do not have to pay brokerage that may be incurred buying units on the ASX. The DRP also allows the Trust to retain the cash ordinarily distributed to Unit Holders and to invest the cash in growing the assets of the Trust.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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