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Mirvac AQUA Income Fund & Mirvac Aqua High Income Fund Unitholder Meeting Results
20 April 2010
Dear Unitholder
MIRVAC AQUA INCOME FUND & MIRVAC AQUA HIGH INCOME FUND UNITHOLDER MEETING RESULTS
At the Unitholder Meetings for Mirvac AQUA Income Fund and Mirvac AQUA High Income Fund held in Sydney on Tuesday, 20 April 2010, Unitholders voted overwhelmingly in favour of the resolutions put forward at the Meetings.
The results were as follows:
Mirvac AQUA High Income Fund
Resolution 1:
To authorise the retirement of Mirvac Funds Management Limited, to be replaced
as responsible entity of the Mirvac AQUA Income Fund by Permanent Investment
Management Limited.
| Units | % | |
| Votes in favour of the resolution: | 104,600,549 | 71.05 |
| Votes against the resolution: | 367,136 | 0.25 |
Resolution 2:
To authorise changes to be made to the Mirvac AQUA Income Fund’s Constitution
(as set out in the instrument tabled at the Meeting) to enable the redemption
mechanism to be changed and the New Strategy to be implemented.
| Units | % | |
| Votes in favour of the resolution: | 71,079,683 | 92.95 |
| Votes against the resolution: | 5,394,717 | 7.05 |
Mirvac AQUA Income Fund
Resolution 1:
To authorise the retirement of Mirvac Funds Management Limited, to be replaced
as responsible entity of the Mirvac AQUA High Income Fund by Permanent
Investment Management Limited.
| Units | % | |
| Votes in favour of the resolution: | 29,264,195 | 72.91 |
| Votes against the resolution: | 126,441 | 0.32 |
Resolution 2:
To authorise changes to be made to the Mirvac AQUA High Income Fund’s
Constitution (as set out in the instrument tabled at the Meeting) to enable the
redemption mechanism to be changed and the New Strategy to be implemented.
| Units | % | |
| Votes in favour of the resolution: | 17,477,473 | 98.98 |
| Votes against the resolution: | 179,437 | 1.02 |
As all four of the Resolutions were interdependent, all Resolutions had to pass by the requisite majorities for the changes proposed to be implemented. As the Resolutions have all been passed, Permanent Investment Management Limited will shortly be appointed as responsible entity and Constitutional changes have been made to enable the Investment Manager to implement the New Strategy detailed in the Notice of Meeting and Explanatory Statement.
Please note that with the Resolutions having passed, the Mirvac Group will also sell its 50 per cent interest in the Investment Manager, Mirvac AQUA Pty Limited, to the Balmain Group. Accompanying this, the name of the Investment Manager will change to Balmain AQUA Pty Limited (Balmain) and the name of the Income Funds will change as follows:
|
From:
Mirvac AQUA Income Fund Mirvac AQUA High Income Fund |
To: Balmain AQUA Income Trust Balmain AQUA High Income Trust |
Importantly, however, personnel managing your investment in the vehicles on a day-to-day basis remain unchanged. Should you have any questions you can continue to call Stephen Tunley, CEO of Balmain AQUA Pty Limited, on 02 9233 9583 or 1800 722 193.
Perpetual Trustees Limited will continue as the registrar of the Income Funds. For general enquiries regarding unit balances, address changes, recording of TFNs/ABNs, transfers of units, please contact 1300 652 907.
Balmain’s registered address is Level 14, 60 Castlereagh Street, Sydney NSW 2000.
Thank you for your support of AQUA and we wish you success in the future.
Yours sincerely
| Mirvac Funds Management Limited | Balmain AQUA Pty Limited |
 |
 |
|
Paul Barker Chairman |
Stephen Tunley Chief Executive Officer |
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