AUSTRALIA: Beston reclassifed on ASX
The Beston Wine Industry Trust (BWI) said today that Standard and Poor's and the Australian Stock Exchange had reclassified its ordinary Units into the Property Trust sector of the Australian Stock Exchange.
Classification of the Trust's ordinary Units changes from "Distillers and Vintners - 30201020" to "Real Estate Investment Trusts - 40401010".
The classification change will be effective from the 12th of March 2004. There will be no change to the ASX code of the ordinary Units as a result of this reclassification.
However, the Trust's ordinary Units may now be located within the Property Trust sector of ASX listings where a separate section for property trusts exists, instead of the Industrials section as previously applied.
Chris Atkins, managing director of the Beston Wine Industry Trust said: "This classification change clearly indicates the nature of the Trust's business."
He went on: "The Trust's strengths are its strong tenants with ten year plus leases, geographically diverse vineyard and wine infrastructure assets located throughout Australia and New Zealand and the forecast yield of 10.45% based on the recent issue price of $0.90 for calendar 2004 plus a tax deferred component."
The Beston Wine Industry Trust now owns 30 vineyards with over 3,400 hectares under vine and 3 wineries in premium locations including Coonawarra SA, the Barossa Valley SA, Margaret River WA, Yarra Valley VIC, Padthaway SA and Marlborough and Hawke's Bay New Zealand.
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