Three Month Status Report - Restricted Transfer Notice
1. We refer to the Restricted Transfer Notice (the Restricted Transfer
Notice) dated 2 April 2013 provided by NorthWest International Healthcare
Properties Real Estate Investment Trust (NorthWest International) to Vital
Healthcare Management Limited (VHML) and NZX Limited (NZX) pursuant to which
NorthWest International gave notice of its intention to acquire an interest
in up to 15,352,830 additional units (Units) in the Vital Healthcare Property
Trust (NZX Code: VHP) (Vital) pursuant to orders placed through a trading
participant for execution in and through NZX''s order matching market
(referred to herein as the Acquisitions) as contemplated by clause
16.4(a)(ii) of the Trust Deed relating to Vital between VHML and Trustees
Executors Limited dated 1 September 1999 (as subsequently amended and
restated) (the Trust Deed).
2. NorthWest International provides the following additional market
information pursuant to NZX listing Rule 4.5.10 and clause 16.3(h) of the
Trust Deed:
(a) Consistent with the position stated in the Restricted Transfer Notice,
NorthWest International remains keen to continue to support Vital and intends
to increase its proportionate holding of Units to 24.99% in an orderly
fashion, whether through supporting Vital''s recently announced capital
raising or on-market purchases. NorthWest International continues to expect
to have completed Acquisitions within the twelve month period from 24 April
2013. Whether or not NorthWest International is able to increase its
proportionate holding of Units to 24.99%, and the timing of any such
increase, is likely to depend on a number of factors, including the timing of
the implementation of Vital''s announced capital raising; the extent to which
NorthWest International''s support of that capital raising leads to an
increase in its proportionate holding of Units; and the movement of the
market price for Units relative to the price range set out in the Restricted
Transfer Notice over the applicable twelve month period.
(b) Since the Restricted Transfer Notice, NorthWest International has
acquired an interest in a further 66,673 Units pursuant to Acquisitions under
the Restricted Transfer Notice. The details of those Acquisitions are set
out in the attached Schedule. As the Restricted Transfer Notice contemplated
Acquisitions of up to 15,352,830 Units, up to a further 15,286,157 Units may
be acquired under the Restricted Transfer Notice.
Yours faithfully,
NorthWest International Healthcare Properties
Real Estate Investment Trust
Paul Dalla Lana
End CA:00238106 For:VHP Type:GENERAL Time:2013-07-02 09:41:22