Continuous disclosure notice Chevron Renaissance Property Trust

31 May 2010

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Orchard Capital Investments Limited (Orchard) as responsible entity for the Chevron Renaissance Property Trust (Trust) announced today that the entitlement offer (Offer) described in the product disclosure statement issued by Orchard on 5 March 2010 (PDS) closed at 5pm today. The minimum subscription was not reached and accordingly the Offer will not proceed.

Orchard will draw down on the Qualitas Facility on 31 August 2010 (subject to satisfaction of typical conditions to draw down) and the following will occur:

  • The Trust will make a repayment of $10 million to National Australia Bank (NAB) as required under the NAB Facility.
  • Distributions of income to unitholders will not re-commence.
  • The Trust’s Gearing Ratio will increase marginally from 73.1% to 73.5%.

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