APT Axa Property Trust Limited

 
TIDMAPT 
 
AXA PROPERTY TRUST LIMITED 
 
 (a closed-ended company incorporated with limited liability under the laws of 
                    Guernsey with registered number 43007) 
 
                            REDEMPTION ANNOUNCEMENT 
 
Further to the passing of the Special Resolution by the requisite majority at 
the Extraordinary General Meeting held on 27 February 2014 and the powers 
therein granted to the Board, the Company will return approximately GBP1.8 
million to Shareholders, equivalent to approximately 2.02 pence per Share, on 14 
May 2015 (the "Redemption Date") by way of a redemption of a proportion of all 
Shareholders' holdings of Shares (the "Redemption"). 
 
Words and expressions that were defined in the Circular posted to shareholders 
on 4 February 2014 (the "Circular") shall have the same meaning where they are 
used in this announcement, except where the context requires otherwise. 
 
The Redemption Price per Share shall be 56.55 pence (by reference to the NAV 
per Share as at 31 December 2014 which is after deducting deferred tax as 
recognised under IFRS and the Group's accounting policies and costs and 
expenses in relation to the partial redemption) and the aggregate amount to be 
distributed to Shareholders pursuant to the Redemption will be approximately 
GBP1.8 million. The Redemption will be effected pro rata to holdings of Shares on 
the register at the close of business on the Redemption Date. Around 3.58% of 
the Company's issued share capital will be redeemed on the Redemption Date 
(that is approximately 3.58 Shares for every 100 Shares held (the "Relevant 
Percentage")). Fractions of Shares will not be redeemed and so the number of 
Shares to be redeemed for each Shareholder will be rounded down to the nearest 
whole number of Shares. 
 
As a result of the Company's disposal programme as described in the Circular, 
the Company currently has approximately GBP1.8 million in unallocated cash.The 
sales that have been recently achieved, and are in hand, position the Company 
to deal with the remainder of the portfolio in an orderly fashion, making this 
an appropriate time to distribute to Shareholders the unallocated cash. The 
costs and expenses of this Redemption are estimated not to exceed GBP7,500, 
equivalent to approximately 0.24 pence per Share being redeemed. 
 
The Company currently has 88,865,954 Shares in issue of which none are held in 
treasury. All of the Shares redeemed on the Redemption Date will be cancelled. 
A further announcement will be released following the Redemption Date to 
confirm the new number of Shares in issue. 
 
The Shares will be disabled in CREST on the Redemption Date and the existing 
ISIN, GG00BRJ94K44 (the "Old ISIN"), will expire. Anew ISIN, GG00BX8ZSL46, in 
respect of the remaining Shares which have not been redeemed (the "New ISIN") 
will be enabled and available for transactions from and including the first 
Business Day following the Redemption Date.Up to and including the Redemption 
Date, Shares will be traded under the Old ISIN and as such, a purchaser of such 
Shares will have a market claim for a proportion of the redemption proceeds. 
CREST will automatically transfer any open transactions as at the Redemption 
Date (which is the record date for the purposes of the Redemption) to the New 
ISIN. 
 
Payments of redemption proceedsare expected to be effected either through CREST 
(in the case of Shares held in uncertificated form) or by cheque (in the case 
of Shares held in certificated form) within 8Business Days of the Redemption 
Date. Shareholders will be paid their redemption proceeds in Sterling. 
 
                              EXPECTED TIMETABLE 
 
Redemption Announcement date                                     29 April 2015 
 
Redemption Date, Redemption Record Date,        14 May 2015(close of business) 
expiry of Old ISIN 
 
New ISIN enabled, CREST Accounts credited                          15 May 2015 
 
Payment of proceeds date                                           26 May 2015 
 
 
 
 
END 
 

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