Circular to Shareholders Perth Markets Group Limited

Dear Shareholder

I am pleased to advise that Brisbane Markets Limited (BML) has consolidated its shareholding in Perth Markets Group Limited (PMGL). BML now holds 49% of PMGL’s issued shares with the intention that it will remain at this level of shareholding into the foreseeable future.

Shareholders may also be aware that there are 113 leases that are due to expire at 31 August 2024, representing approximately 18% of the annual rental revenue. These leases contain an option to extend the term for a further 5 years. BML is pleased to advise that 100% of tenants that hold these leases have exercised the option within the required timeframe, and BML will be required to provide these lessees with a new lease for the further 5-year term.

There is also a market rent review that will apply from 1 September 2024 for these 113 leases as well as a further 22 leases. BML is currently working through a valuation process to determine the market rent applicable to these leases from 1 September 2024, and will provide a further update in due course.

If you have any questions in relation to the above, please contact hesitate to contact our office.

Anthony Kelly
Chair

Shareholders interested in buying or selling shares in BML, or who need any information in this regard, may register their interest by sending us an email or by completing the ‘Register as an interested party’ or ‘Sell your shares in BML’ online forms.

CONTACT OUR CORPORATE DEPARTMENT

For more information on your investment in Brisbane Markets Limited, please call our Corporate Department on (07) 3915 4200 or email via the button below.