It is anticipated that Charter Hall Direct Industrial Fund, Canning Vale Logistics Trust No. 1, 218 Bannister Road Trust, CPOF Kogarah Holding Trust, Franklin Street Property Trust, CHPT Dandenong Trust and LWR Finance Trust (Stapled Trusts), which are to form a stapled entity known as Charter Hall Long WALE REIT (Group), will be admitted to the official list of ASX Limited (ASX) on the morning of Tuesday, 8 November 2016.

Official quotation of the Group’s stapled securities is expected to commence at 12:00pm AEDT on Tuesday, 8 November 2016 on a conditional and deferred settlement basis. The Group is expected to raise approximately $826.7 million pursuant to the offer under a product disclosure statement dated 27 September 2016 as varied by a supplementary product disclosure statement dated 27 October 2016, issued by Charter Hall WALE Limited as responsible entity of the Stapled Trusts (Offer Document) by the issue of approximately 206.7 million stapled securities at an issue price of $4.00 per stapled security.

CONDITIONAL AND DEFERRED SETTLEMENT TRADING 

The Group has requested that a conditional trading market be provided pursuant to ASX Operating Rule 3330.  The conditions for the conditional market specified by the Group are (i) settlement under the Offer Management Agreement (as defined in the Offer Document); (ii) completion of the Restructure (as defined in the Offer Document); and issue of stapled securities to successful applicants under the Offer.

In accordance with ASX Operating Rule 3330, ASX has agreed to provide a conditional market in the Group’s stapled securities. The Group’s stapled securities will be placed in pre-open at 8:30am AEDT on Tuesday, 8 November 2016 and trading is expected to commence on a conditional and deferred settlement basis at 12:00pm AEDT on Tuesday, 8 November 2016. 

The letters "CT" will be displayed in the Basis of Quotation field of ASX Trade to facilitate identification of the Group’s stapled securities trading on a conditional basis. Market Participants should note that because no Special Market has been created within ASX Trade, Signal B trade messages will not contain explicit Conditional Trading Basis of Quotation. This information will be identified in the Daily Diary and ReferencePoint Master List. 

The Group is required to advise ASX immediately of the fulfilment or non-fulfilment of the conditions for the conditional market. Notification as to when trading will become unconditional will be made in accordance with the ASX Operating Rules. The market will be advised by ASX market release when the conditions of the conditional market have been met and when the stock will commence trading on an unconditional basis. The market will not be purged. 

In the case of fulfilment of the conditions, ASX will issue a further Notice to participants confirming trading arrangements and the date holding statements will be sent to successful applicants. At this stage, the conditions for the conditional market are expected to be met on or about Thursday, 10 November 2016. The Group has agreed to send holding statements on Monday, 14 November 2016, which will mean that the first settlement date will Thursday, 17 November 2016. 

CONTRACT NOTES FOR CONDITIONAL SALES AND PURCHASES 

While it is the Participant’s responsibility to obtain their own advice concerning the appropriate words that should appear on a contract note for a conditional sale or purchase, the endorsement suggested below may be considered for contract notes for conditional transactions in the Group's stapled securities. 

"This contract is conditional upon notification being received by ASX by close of business on Tuesday, 22 November 2016 that the conditions for the conditional market have been fulfilled.  If the conditions are not fulfilled, this contract shall be cancelled without any liability whatsoever other than for the return of any money paid in connection with the settlement of the contract." 

Advice should also be provided to clients to ensure that they understand the full ramifications of Conditional Trading. 

INDICATIVE KEY DATES 

This timetable has been prepared on the basis that the conditions for the conditional market are expected to be satisfied on Thursday, 10 November 2016. If the conditions are not fulfilled by the close of business on Tuesday, 22 November 2016, stapled securities will not be issued and all conditional trades that have occurred since Tuesday, 8 November 2016 will be cancelled.

If the conditions are not satisfied on Thursday, 10 November 2016, but are satisfied prior to the close of business on Tuesday, 22 November 2016, the dates in the timetable will be revised and a new timetable will be released to the market. 

What do I need to do by when?

For further information, please call the Offer information line on 1300 306 413 (within Australia) or on +61 1300 306 413 (from outside Australia) between 8.30am and 5.00pm AEDT Monday to Friday (Sydney time)

Need more information?

Issued by

Andrew Black, Manager Listings Compliance (Sydney)

Contact information

Andrew Black
+61 (02)  9227 0000
info@asx.com.au

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