Lemarne Corporation Ltd Announces Acquisition of Real Estate Capital Partners USA Property Trust Units

Lemarne Corporation Ltd announced that it has acquired off-market 2,000,000 units in Real Estate Capital Partners USA Property Trust. The consideration paid for the 2,000,000 RCU units was $0.64 per unit. The total consideration price of $1,266,930 for the 2,000,000 RCU units was funded as $733,860 for 1,158,485 RCU units was funded by the Company’s cash reserves and $533,070 for 841,515 RCU units was funded via a loan provided to the Company by Kushkush Investments Pty Ltd (Kushkush). At the time of the acquisition, RCU had 101,014,072 units on issue and the Company’s holding of 2,000,000 units accordingly represented 1.98% of total RCU units on issue. After the acquisition, RCU completed the redemption of 90,334,472 RCU units through a redemption facility. Lemarne did not participate in the redemption facility, and accordingly the Company’s holding of 2,000,000 units now represents 18.73% of the total issued RCU units (on a post-redemption basis).