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GPT Group Provides Valuation and Distribution Update

09 Jun 2020  |  08:46:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Valuation and Distribution Update

GPT Group announced that it has independently revalued its retail portfolio as at 31 May 2020. In addition, all assets in the GPT Wholesale Office Fund (GWOF) and the GPT Wholesale Shopping Centre Fund (GWSCF) have been independently revalued as at 31 May 2020. The Group is also providing an update on the timing of the announcement of its 2020 interim distribution and its amended distribution policy. The revaluations have resulted in a reduction in value of $476.7m, or 8.8% compared to the 31 December 2019 book value. The Group is amending its distribution payout policy to align with free cashflow.

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