WHY???
23/11/2016
http://www.reuters.com/article/idUSFWN1DO001
Nov 23 360 Capital Group Ltd
* Entered into a transaction to sell 360 Capital Investment Management Limited (CIML) as well as its coinvestment stakes in all funds to Centuria Capital Group
* Deal for $290.7 million
* Group is to provide a $50.0 million vendor loan to Centuria for a term of up to 18 months at an interest rate of 5.0% p.a. Paid monthly
* Post the transaction, group’s NTA per security expected to increase about 36.2% from $0.69 per security as at 30 June 2016 to $0.94 per security
* “group intends to fully repay its corporate bonds and be debt free post completion of the transaction”
* Group will also seek securityholder approval at its AGM to buy back up to 48.0 million securities as part of its capital management initiatives Source text for Eikon: Further company coverage
23/11/2016 centuria (ASX: CMA) has entered into a unit sale agreement to purchase 360CIML (360 Capital Investment Management Limited) and all the TOF ( Capital Office Fund) units that 360 Capital owns for approximately $47.4 million (28.8% of TOF Units)
purchase 360CIML and all the TIX units that 360 Capital owns for approximately $82.8 million (15.6% of TIX units). management of TIX will transition in January 2017
