There are some aspects of this fund which may require extra consideration before deciding to invest.
Restrictions on transfer
There are rules around transfering in and out of this investment, which may depend on eligibility. For example, overseas investors may not be able to transfer into some New Zealand managed funds. Or there may be restrictions on withdrawals, such as not until age 65 for KiwiSaver funds.
Restrictions on acquisition
In this case, there are limits or exclusions on buying this investment that are important to know and acknowledge before you do.
The offer is only open to existing holders of B Shares in 650 Great South Road Limited. In addition, before shares will be issued to an investor under the offer, the investor must provide identification and other anti-money laundering due diligence information to satisfy the Issuer’s anti-money laundering requirements.
Issuer's description of this product:
Offer of 120 parcels of 10,000 B Shares in Property Improvements Limited
Minimum investment
This is the minimum amount you would need to put into this in order to invest.
Fixed offer price
This is the price per share of this offer. Additional details may be available.
Closing date
This is when this offer closes to investors.
Key facts
Provider website
Minimum total to be raised
The issuer of this investment has indicated that a minimum of $1,200,000 must be raised before it is issued.
Issuer's industry
Other
Fixed offer price details
Fixed offer price description
The Issuer has set an issue price of 1.00 NZD for each B Share. All B Shares issued under the offer will be issued at 1.00 NZD per share.
Key documents
These are the most important documents that a provider is required to file about this investment.
Product disclosure statement
Before you invest in a product like a fund, you are given a PDS which has essential details about it and the company providing it. Here's more on how to read a PDS.
PDS - Property Improvements Limited (28.11.2024).pdf
How this investment works, including about the provider, risks, costs and potential returns
Additional disclosure documents
These are more documents from the provider that can contain interesting information.
B1 - JLL Expert Consent Letter - 28 November 2024.pdf
C1 - Historic Financial Statements for 650 Great South Road (2024-2022).pdf
C2 - Property Improvements Limited - Prospective Financial Information.pdf
C3 - 650 Great South Road Limited -Prospective Financial Information.pdf
D2 - Total estimated costs of Offer and Issue - Property Improvements Limited.pdf
E1 - Administration Deed - Property Improvements Limited (28.11.2024).pdf
E2 - Consolidated - 650 GSR, ASB Loan Agreement (with amendments and general terms).pdf
E3 - Issuer Loan Agreement - Property Improvements Limited.pdf
E4 - Deed of Priority and Subordination - 650 Great South Road.pdf
E5 - 650 Great South Road - Value and Risk Advisory Valuation Report (31 July 2024).pdf
E6 - 650 Great South Road - Record of Title.pdf
E7 - 650 Great South Road - LIM report.pdf
E8 - Property Improvements Limited Taxation Summary Disclosure.pdf
Additional details
Issuer details
Name
PROPERTY IMPROVEMENTS LIMITED
Type
NZ Limited Company
Industry
Other
Website
NZBN
9429052284601
Credit rating
Not provided
Offer details
Date registered
28 November 2024
Date opened
06 December 2024
Closing date
20 December 2024
Continuous issue
No
Further payments may be required
No
Restrictions on transfer
Yes
Restrictions on acquisition
Yes: The offer is only open to existing holders of B Shares in 650 Great South Road Limited. In addition, before shares will be issued to an investor under the offer, the investor must provide identification and other anti-money laundering due diligence information to satisfy the Issuer’s anti-money laundering requirements.
Convertible product
No
Intending to list
No
Schedule 1 exemption
No
FMA exemption
No
Reference numbers
Offer
OFR13862: B SHARES IN PROPERTY IMPROVEMENTS LIMITED
Next steps
Want to know more about this investment or how it compares to others? Have a look at its peers.
Product disclosure statement
Take a deeper dive into the PDS, which has essential details about this offer and the company providing it. Here's more on how to read a PDS.
Getting investment advice
Good advice is gold. Everyone can benefit from expert advice, provided the adviser has your interests at heart. Here's how to find one and key questions to ask.
Interested in investing in this offer? Visit the provider's website. maat.co.nz