Stockland finalises details of security purchase plan12:31,...

Stockland finalises details of security purchase plan
12:31, Friday, 17 October 2008

Sydney - Friday - October 17: (RWE Aust Business News) -
Stockland (ASX:SGP) has released details of its stapled security purchase
plan.
Eligible Stockland security holders will have the right to apply
for up to 570 stapled securities, without paying brokerage fees or
transactions costs, through the plan.
It will open on Monday 27th October 2008 and will close at Friday
14th November 2008.
The offer is available to Stockland security holders registered
on 20th October 2008 who live in Australia or New Zealand.
"This plan gives retail investors the opportunity to increase
their Stockland security holding at the same price paid by institutional
investors in a recent equity placement," chairman Graham Bradley said.
The placement to institutions raised a total of $300 million,
with the proceeds to be used to strengthen Stockland's balance sheet by
paying down debt and for funding of ongoing business activities.
The price paid in the placement was $5.30.
If the total value of applications received is more than $75
million, Stockland has the right to undertake a scale back.
This would reduce the number of stapled securities in the parcels
of stapled securities that applicants would otherwise receive and they
would receive a proportionate refund.