Following the resetting of the Redemption Queue on 1 August 2011, the Manager received redemption requests for $19.7 million, or for approximately 9% of the Fund’s units. The Manager had previously repaid 87.7% of the previous redemption requests as of December 2010. The Manager has 18 months to repay the current Redemption Queue.
The Manager repaid 15% of the redemption queue on 23 November 2011 following payment from the sale of an AMP Capital Property Portfolio (APP) building.
The Manager repaid a further 12% of the redemption queue on 9 January 2012.
The Manager is continuing to work with APP to endeavour to repay the remaining 73% of the redemption queue as quickly as possible.
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