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Property for Industry Ltd (PFI.NZ)

PFI.NZ on New Zealand Stock Exchange

1.62NZD
16 Oct 2017
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Latest Key Developments (Source: Significant Developments)

Property for Industry acquires portfolio of properties for NZ$69.5 mln
Tuesday, 3 Oct 2017 03:31pm EDT 

Oct 4 (Reuters) - Property for Industry Ltd ::Secured a portfolio of eight industrial properties and one head office for an acquisition price of NZ$69.5 million​.Acquisition is to be funded by about $70 million of new equity via a fully underwritten pro rata renounceable rights issue.Maintains FY17 guidance for distributable profit of between 7.70 & 7.90 cents per share & cash dividend of 7.45 cps.‍A $70 million institutional credit facility has been established with ANZ Bank New Zealand Limited to fund acquisition.‍Acquisition and equity raise will decrease PFI's gearing from 34.2% to 32.3%.All figures in NZ$​​.  Full Article

Property For Industry posts HY loss after tax of NZ$5.6 mln​
Tuesday, 8 Aug 2017 04:37pm EDT 

Aug 9 (Reuters) - Property For Industry Ltd ::‍PFI recorded a loss after tax for six months to 30 June 2017 of NZ$5.6 million​.Q2 cash dividend of 1.75 cents per share.HY operating revenue NZ$35.7 million, up 1.4 pct over prior period.Raises guidance for full year distributable profit from 7.50-7.70 cents per share to 7.70-7.90 cents per share.Expects to pay full year cash dividends totalling 7.45 cents per share in 2017."In second half of 2017, there is additional consideration that internalisation is forecast to provide earnings accretion".  Full Article

Property for Industry appoints Anthony Beverley as deputy chairman
Wednesday, 3 May 2017 10:41pm EDT 

May 4 (Reuters) - Property For Industry Ltd :Appoints Anthony Beverley as deputy chairman of PFI board.  Full Article

Property For Industry reaches internalization deal with PFIM Ltd
Sunday, 2 Apr 2017 04:31pm EDT 

Property For Industry Ltd : Internalisation Agreement . Reached a conditional agreement with PFIM Limited (PFIM) to internalise management of PFI . Internalisation will be accretive to EPS for shareholders . Greg Reidy, Simon Woodhams and Craig Peirce will continue to act as managing director, general manager and CFO under contracts with PFI .Internalisation includes payment of NZ$42.0 million to PFIM as consideration for termination of PFI management contract.  Full Article

Property for Industry announces acquisition of property
Wednesday, 1 Feb 2017 10:00pm EST 

Property for Industry Ltd : Acquisition of 11 Turin Place, settlement of 27 Zelanian Drive . Property was purchased in a sale and lease back transaction for a net purchase price of $14.2 million . Announces settlement of sale of vacant industrial property for a net sales price of $8.3 million .All figures in NZ$.  Full Article

Property for Industry announces independent valuation outcome
Thursday, 1 Dec 2016 02:31pm EST 

Property for Industry Ltd : Expected annual increase from independent valuations in value of its property portfolio of approximately $88 million or 9% to $1.09 billion .All figures in NZ$.  Full Article

Property for Industry updates FY distributable profit forecast
Monday, 8 Aug 2016 04:32pm EDT 

Property for Industry Ltd : Increased guidance for FY distributable profit to 7.7 cents per share before and 7.4 cents per share after management performance fees . PFI still expects cash dividends to be 7.30 cents per share .  Full Article

BRIEF-Property for Industry acquires portfolio of properties for NZ$69.5 mln

* Secured a portfolio of eight industrial properties and one head office for an acquisition price of NZ$69.5 million​