Cromwell Property Group (ASX:CMW) Suspension of distribution reinvestment plan
In accordance with ASX Listing Rule 3.10.8, Cromwell Property Group (Cromwell) today announces
the suspension of its distribution reinvestment plan (DRP) in respect of the March 2020 quarter
Under Rule 13 of the DRP rules, the Cromwell Board may suspend the DRP at any time. The
Cromwell Board has made the decision to suspend the DRP because it considers, having regard to a
number of relevant factors including current market conditions, potential volatility in Cromwell’s
security price in the short term and the fact that Cromwell’s security price is currently below the per
unit NTA (net tangible assets), it is not in the interests of Cromwell’s securityholders as a whole for
securities to be issued under the DRP.
The quarterly distribution for the quarter ended 31 March 2020 will be paid to securityholders in cash.
No action is required by securityholders. Should the suspension of the DRP be lifted, each
securityholder’s existing DRP status will also be reinstated.
A copy of the DRP rules can be accessed on Cromwell’s website at:
courtesy of Bell Direct
( DYOR )
i hold CMW ( and participate in the DRP )