Northland, VIC
Periodic Statements

Periodic statement for the period ended 30 June 2021

Vicinity Centres (Vicinity) is an Australian Real Estate Investment Trust (A-REIT) that trades on the Australian Securities Exchange (ASX) under the code ‘VCX’. Vicinity is a stapled security structure, with each security comprised of one share in a company, Vicinity Limited, stapled to one unit in a trust, Vicinity Centres Trust. The shares and units cannot be dealt with or traded separately.

Vicinity Centres Trust is defined as a managed investment scheme and accordingly certain disclosure requirements apply. This page provides disclosure relevant to Periodic Statements in accordance with s1017D of the Corporations Act 2001 (Cth).

These disclosures should not be relied upon for the purpose of the preparation of Australian income tax returns. In late August/early September each year, securityholders will be sent their Annual taxation statement which contains the information required to complete an Australian income tax return.

Holding and Transaction Details

Securityholders can access information about their holding, including the number of securities held and dates of any transactions, through Link Market Services:

Online: Link Market Services Investor Centre
Phone: +61 1300 887 890

Securityholders can obtain information about the prices at which they have transacted Vicinity securities from the broker or financial adviser who completes the trade.

Estimated Total Fees and Indirect Costs

The total fees represent the estimated total fees and costs incurred by each securityholder for their investment in Vicinity securities. They comprise the fees which have been charged directly to the securityholder (which amount to zero for the period) and the indirect costs which have not been deducted directly from the securityholder’s account.

Indirect costs include costs such as accounting, corporate costs, custody, employee benefits expenses, office costs, registry, and other administrative fees. They do not include costs that would be incurred if an investor invested directly into Vicinity’s assets, or management costs paid or payable by one member of the Vicinity group to other members of the Vicinity group.

The estimated indirect costs1 for the 12 months ended 30 June 2021, are as follows:

Average number of securities on issue
4,551.5
Indirect costs ($m)
42.324
Indirect costs per security ($)
0.0093

1 Securityholders can calculate their own estimated indirect costs by multiplying the ‘Indirect costs per security’ (from the table above) by their average holding balance during the 12 months ended 30 June 2021.

Performance

Security Price

After closing at $1.43 on 30 June 2020, over the 12 months to 30 June 2021, Vicinity securities traded through a range of $1.24 to $1.725, ending the period at $1.545. More information on the history of Vicinity’s security price can be downloaded from the Security Price page.

Distributions

Vicinity paid two distributions in relation to the 12 months to 30 June 2021 totalling 10.0 cents per security as follows:

Period ended
Distribution (per security)
Payment date
31 December 2020
3.4 cents
2 March 2021
30 June 2021
6.6 cents
31 August 2021
Total
10.0 cents
Return on investment

Return on investment, or total securityholder return, is estimated as the combination of security price movement from the opening security price, plus distributions (assumed to be reinvested), over the period, expressed as a percentage. For the 12 months to 30 June 2021, the calculation for Vicinity is 15.0%.

The above calculation is unlikely to reflect the actual transaction dates and prices of securityholders, nor does it take into account any brokerage or other costs that may have been incurred. Vicinity does not have access to the prices at which securityholders have executed their transactions and the related costs. Securityholders may calculate their return on investment by obtaining such information about their own transactions from their broker or financial adviser.

The following table outlines the historical total securityholder return performance of Vicinity compared to a number of benchmark indices2:

Total securityholder return(2) (%)
FY15
FY16
FY17
FY18
FY19
FY20
FY21
Vicinity Centres(3)
24.4
20.4
(17.7)
7.0
0.6
(39.9)
15.0
S&P/ASX 200 A-REIT Retail
24.1
27.3
(16.3)
14.1
(7.9)
(34.0)
22.5
S&P/ASX 200 A-REIT
20.3
24.6
(6.3)
`13.0
19.3
(21.3)
33.2
S&P/ASX 200
5.7
0.6
14.1
13.0
11.5
(7.7)
27.8

2 Total securityholder return assumes the reinvestment of distributions. The calculations in this table may not match other measures of total securityholder return. Source: UBS.
3 Vicinity Centres traded as Federation Centres prior to 2 November 2015.

Performance targets

Information about Vicinity’s performance targets and achievement against those targets and other financial and operational performance metrics can be found in its Annual Report and other financial results disclosures which can be accessed in the Financial Results section of this website.

Movement in Securities During the Year

During the 12 months to 30 June 2021:

  • 22.6 million securities were issued under a Securities Purchase Plan in July 2020;

  • Vicinity did not offer a distribution reinvestment plan (DRP); and

  • No other securities were issued.

Additional Information

We are committed to delivering a high level of service to all securityholders. Should there be some way you feel that we can improve our service, we would like to know. Whether you are making a suggestion or a complaint, your feedback is always appreciated.

Email: investor.relations@vicinity.com.au

We have a complaints handling policy and procedure and are committed to resolving complaints equitably and efficiently. If you have a complaint you can submit them via email, phone or post:

Email: complaints@vicinity.com.au

Phone: +61 2 8229 7755

Post: Complaints Officer, Vicinity Centres, Queen Victoria Building, Level 4, 455 George Street, Sydney NSW 2000

The Responsible Entity is a member (member no. 28912) of the Australian Financial Complaints Authority (AFCA), an external dispute resolution scheme to handle complaints from consumers in the financial system. If you are not satisfied with the resolution of your complaint by the Responsible Entity, you may refer your complaint via email, phone, online or post:

Email: info@afca.org.au

Phone: 1800 931 678

Online: afca.org.au

Post: AFCA, GPO Box 3, Melbourne VIC 3001

Prior Year's Periodic Statements

Prior year's periodic statements
Disclaimer

The information contained herein (the Information) has been supplied by Vicinity Limited and Vicinity Centres RE Limited (in its capacity as responsible entity of Vicinity Centres Trust) (Vicinity).

The Information is intended to provide general advice only and does not take into account your individual objectives, financial situation or needs. You should assess whether the Information is appropriate for you and consider talking to a financial adviser or consultant before making an investment decision. This document contains forward-looking statements, including statements regarding future earnings and distributions. These forward-looking statements are not guarantees or predictions of future performance, and by their very nature, involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Vicinity, particularly in relation to the global COVID-19 pandemic, and which may cause actual results to differ materially from those expressed in the statements contained in this document. You should not place undue reliance on these forward-looking statements. These forward-looking statements are based on information available to Vicinity as at the date of this document. Except as required by law or regulation (including the ASX Listing Rules), Vicinity and its subsidiaries (as applicable) and their members, directors, officers, employees, agents, affiliates, advisers or representatives, make no undertaking to update these forward-looking statements, whether as a result of new information or future events.

All reasonable care has been taken in relation to the preparation and collation of the Information. Except for statutory liability which may not be excluded, no person, including Vicinity and any of its subsidiaries (as applicable) and any of their members, directors, officers, employees, agents, affiliates, advisers or representatives, accepts responsibility for any loss or damage howsoever occurring resulting from the use of or reliance on the Information by any person. Past performance is not indicative of future performance and no guarantee of future returns is implied or given.