Wednesday, 15 August 2018

Announcement

GENERAL: AUG: Financing Update

20 Dec 2017 08:30NZX
NZX RELEASE
20 December 2017

FINANCING UPDATE

Augusta Capital Limited (NZX: AUG) is pleased to advise that it has entered
into new loan facility agreements with ASB Bank reflecting its various income
streams and future balance sheet structure.

The revised facilities are:

o Property Facility - borrowings in respect of the Company''s directly
held property assets
Limit: $26.5 million
Expiry Date: 30 April 2019 (the final settlement for the sale of the Finance
Centre is scheduled to occur on 1 April 2019)
o Investment Facility - borrowings in respect of the Company''s
investment assets (such as shares in NPT)
Limit: $7 million
Expiry Date: 30 November 2019
o Funds Management Working Capital Facility
Limit: $15 million
Expiry Date: 30 November 2019

The Investment and Funds Management facilities are each subject to annual
review and a 12 month extension of the term at ASB''s discretion.  The
facilities are otherwise on typical terms and conditions for bank facilities
and include that a change of control will be an event of review.

A separate facility of $17.5 million has also been entered into to partially
fund the acquisition of The Hub, Seaview, Wellington which is scheduled to
settle later today.  A separate announcement will be made to confirm
settlement has occurred.

For further information, contact:

Simon Woollams
Chief Financial Officer
End CA:00312182 For:AUG    Type:GENERAL    Time:2017-12-20 08:30:24
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