Ann: Duxton Water Debt Update, page-2

DUXTON WATER DEBT UPDATE
Duxton Water Limited (“Duxton Water” or “the Company”) wishes to advise that at the Board Meeting on the 27th of November 2017, the Directors endorsed the establishment of a debt facility to assist in the acquisition of further Water Entitlement within the Company’s targeted portfolio. The Directors are of the view that the facility will assist Duxton Water to smooth its future capital deployment and take advantage of short term opportunities. This decision is in keeping with the Director’s view that the Company will not hold a significant amount of long term debt and the facility will remain under a 20% primary debt to equity ratio. The Company actively manages its portfolio, to ensure short term returns are balanced against longer term leasing opportunities and potential capital appreciation.