ALE Property Group 24 March 2010 The Breakfast Creek Hotel, Brisbane, QLD Australian Leisure and Entertainment Property Management Limited ABN 45 105 275 278 Australian Leisure and Entertainment Property Trust ARSN 106 063 049
Disclaimer and restrictions Australian Leisure and Entertainment Property Management Limited (in its capacity as the responsible entity for Australian Leisure and Entertainment Property Trust) (“ ALE ") is the proposed issuer of the unsecured loan notes (“ ALE Notes 2 "). This presentation was prepared by ALE and contains information regarding the proposed of issue of ALE Notes 2. ALE, Macquarie Capital Advisers Limited (ABN 79 123 199 548) (“ Macquarie ”), and their respective officers, employees, agents and affiliates may, from time to time, hold interests in the securities of, or earn brokerage, fees or other benefits from, ALE and corporations and investment vehicles in which ALE hold interests. Macquarie or its affiliates are acting Structurer and Lead Manager to the offer of ALE Notes 2 and may receive fees for acting in that capacity. This document is not a product disclosure statement or prospectus for the purposes of the Corporations Act. This presentation is provided to potential investors for the sole purpose of providing information to recipients regarding the Offer and does not constitute an offer, invitation, solicitation or recommendation in relation to the subscription, purchase or sale of ALE Notes 2 or other securities in any jurisdiction and neither this document nor anything in it shall form the basis of any contract or commitment. No responsibility is accepted by ALE, Macquarie or any of their respective directors, officers, employees, agents or affiliates, nor any other person, for any of the Information or for any action taken by you on the basis of the Information or opinions expressed in the course of this presentation. This presentation does not constitute investment, legal, taxation or other advice and the presentation does not take into account your investment objectives, financial situation nor particular needs. You are responsible for forming your own opinions and conclusions on such matters and should read the Prospectus in its entirety and make your own independent assessment of the Information and the Offer and seek independent professional advice in relation to the Information and any action taken on the basis of the Information. ALE has prepared this presentation based on information available to it. None of Macquarie or any of their directors, agents, officers, employees or affiliates have authorised this presentation or are responsible for the issue or making of any statement or contents of this presentation. Except as required by law, no representation or warranty, express or implied, is made by Macquarie as to the fairness, accuracy, completeness or correctness of the Information, opinions and conclusions, or as to the reasonableness of any assumption contained in this presentation. By receiving the Information and to the extent permitted by law, you release ALE, Macquarie and their respective directors, officers, employees, agents and affiliates from any liability (including, without limitation, in respect of direct, indirect or consequential loss or damage or loss or damage arising by negligence) arising as a result of the reliance by you any other person on anything contained in or omitted from this presentation. Any forward looking statements included in this presentation involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to ALE , Macquarie and their respective directors officers, employees, agents or affiliates. Actual future events may vary materially from the forward looking statements and the assumptions on which those statements are based. Given these uncertainties, you are cautioned to not place undue reliance on such forward looking statements. Foreign jurisdictions – THIS DOCUMENT MAY NOT BE DISTRIBUTED IN THE UNITED STATES OR TO ANY US PERSON The distribution of this presentation in jurisdictions outside Australia may be restricted by law. If you come into possession of it you should seek advice on such restrictions and observe any such restrictions. Any failure to comply with such restrictions may constitute a violation of applicable securities laws. This presentation does not constitute an offer in any jurisdiction in which, or to any person to whom, it would not be lawful to make such an offer. No action has been taken to register or qualify ALE Notes 2 or to otherwise permit a public offering of ALE Notes 2 outside Australia or New Zealand. ALE Notes 2 may be offered in a jurisdiction outside Australia or New Zealand where such an offer is made in accordance with the laws of that jurisdiction. ALE Notes 2 have not been, and will not be, registered under the United States Securities Act of 1933 ("Securities Act") and may not be offered or sold in the United States or to, or for the account or benefit of, a US Person (as defined in Regulation S under the Securities Act). Prospectus A public offer of ALE Notes 2 will be made by ALE in a Prospectus under Part 6D.2 of the Corporations Act. A Prospectus was lodged with the Australian Securities and Investments Commission on 24 March 2010. A replacement Prospectus with the margin determined under the Bookbuild will be lodged on or about 31 March 2010. This document is not a Prospectus under Australian law and does not constitute an invitation to subscribe for or buy any securities or an offer for subscription or purchase of any securities or a solicitation to engage in or refrain from engaging in any transaction. A copy of the Prospectus is available at www.alegroup.com.au. Potential investors should consider the Prospectus in deciding whether to acquire ALE Notes 2. Applications for ALE Notes 2 may only be made using the Application Form attached to or accompanying the Prospectus. Future performance Nothing in this presentation is a promise or representation as to the future. Statements or assumptions in this presentation as to future matters may prove to be incorrect and differences may be material. ALE does not make any representation or warranty as to the accuracy of such statements or assumptions. Except as required by law, and only then to the extent so required, neither ALE nor any other person warrants or guarantees the future performance of ALE Notes 2 or any return on any investment made pursuant to this presentation. Diagrams Diagrams used in the presentation are illustrative only and may not be drawn to scale. Unless otherwise stated, all data contained in charts, graphs and tables is based on information available at the date of this presentation. 2 Australian Leisure and Entertainment Property Management Limited ABN 45 105 275 278 Australian Leisure and Entertainment Property Trust ARSN 106 063 049
Outline Offer summary 4 Key features of ALE Notes 2 5 ALE Property Group 6 ALH 7 Diverse portfolio 8 Unique portfolio attributes 9 H1 FY10 results and capital management update 10 Capital structure 11 ALE Notes 2 terms 13 Key risks 15 Offer structure 16 Timetable 17 Contacts 18 3 Australian Leisure and Entertainment Property Management Limited ABN 45 105 275 278 Australian Leisure and Entertainment Property Trust ARSN 106 063 049
Offer summary Summary and rationale ALE Property Group (ASX: LEP) (“ALE”) is seeking to raise approximately $100 million from an issue of ALE Notes 2 ALE Notes 2 are new unsecured notes issued by ALE Property Management Limited as responsible entity of ALE Property Trust Initial Interest Rate of approximately 8.40% – 8.60% per annum and four year term 1 ALE Notes 2 form an important element of ALE’s existing capital management program Proceeds from the Offer of ALE Notes 2 will be used to refinance existing debt and ultimately repay, in part, the existing ALE Notes that mature in September 2011 Offer details The Offer will comprise an Institutional Offer, a Broker Firm Offer, an ALE Stapled Securityholder Offer, an ALE Notes Reinvestment Offer and a General Offer The Margin will be determined via a Bookbuild on Wednesday 31 March 2010 Offer opens 1 April 2010 and closes on 21 April 2010 for ALE Stapled Securityholder Offer, ALE Notes Reinvestment Offer and the General Offer and on 27 April 2010 for Broker Firm Offer and Institutional Offer ALE Notes 2 will be listed on the ASX and are expected to commence trading on a deferred settlement basis on 30 April 2010 Minimum investment of $5,000 (50 ALE Notes 2) 1. Assumes 3 month BBSW rate of 4.3783% on 24 March 2010, Margin of 4.00% – 4.20% and maturity on the Initial Maturity Date 4 Australian Leisure and Entertainment Property Management Limited ABN 45 105 275 278 Australian Leisure and Entertainment Property Trust ARSN 106 063 049
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