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Prime Retirement and Aged Care Property Trust Announces Responsible Entity Restructure
Tuesday April 29, 2008, 9:01 am

Original Announcement: PTN Responsible Entity Restructure

Prime Retirement and Aged Care Property Trust reported a restructuring of the ownership of Australian Property Custodian Holdings (APCH), the Responsible Entity of the Trust. All APCH shares currently owned by interests associated with Mr Bill Lewski, the current MD of APCH will be sold to Kidder Communities a wholly owned subsidiary of Kidder Williams, a Melbourne based investment and advisory group. There will be some immediate enhancements to APCH's structure and relationships which the Board believes will enhance Prime Trust's ability to actively promote industry consolidation. It is intended to execute transaction documents by the end of May and settle the acquisition in July 2008. As a result of the sale and restructure, the balance of the Prime Trust ASX listing fee will be paid in cash and the equivalent of $5m in Prime Trust Units.

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