http://www.4-traders.com 8 December 2012
Centro Retail Australia Ltd : Centro Retail Australia to become Federation Centres
Centro Retail Australia to become Federation Centres
Centro Retail Australia (CRF) announces that it intends to become Federation Centres and will convene an Extraordinary General Meeting to seek securityholder approval to change the company name from Centro Retail Limited to Federation Limited.
Chairman Bob Edgar said: “The Board’s intention is to seek securityholder approval to change our company name from Centro Retail Limited to Federation Limited. The company forms part of the stapled group Centro Retail Australia and we propose to change the group name to Federation Centres following approval to change the company name.
“This marks our many achievements over the past 12 months and our commitment to create long term value for securityholders.
“Securityholders can have confidence in what Federation Centres stands for and how we go about managing centres for the benefit of all stakeholders,” he said.
“The name itself has been selected to reflect our business. A federation respects the individuality of its parts but also has the strength of the wider group. That is what we are – a group of strategically- sited individual centres that reflect the local communities to which we provide services – while benefiting from the strength of the parent organisation,” Mr Edgar said.
“Our proposal to become Federation Centres is much more than a simple name change. It also demonstrates the renewal actions taken by the organisation during the past year. We now have a clear path forward with a new Board, refreshed management team and a clear strategic direction. Importantly, we have a renewed focus on the strategic partnerships that are integral to our business today – with our retailers, the communities in which we operate, our people and our securityholders,” he said.
Managing Director and CEO, Steven Sewell said: “While the creation of a dynamic new brand is a significant step, pivotal to the new name is the use of the ribbon symbol. The ribbon signifies the delivery of a great centre experience and can be used in many creative ways.”
“Although the group will have a new name, our centres will retain their strong locality-based identities with our branding strategy designed to endorse and celebrate these local hero brands.”
“Looking ahead, Federation Centres will strive to lead our industry in the way we do business. We have a great opportunity to distinguish Federation Centres as a leading Australian centre manager. We want people to love their local shopping experience and we want our centres to be their favourite destination.
A Notice of Meeting for the Extraordinary General Meeting to be held on 22 January 2013 will be lodged with the Australian Securities Exchange. Following approval, the new name of the group will be progressively incorporated into the branding of our centres. An example of the proposed new brand is included below.
About Centro Retail Australia (ASX: CRF)
CRF was established in December 2011 and is a fully vertically integrated Australian Real Estate Trust specialising in the ownership and management of Australian shopping centres. CRF has $6.5 billion of shopping centres under management and employs over 500 people, with offices in Melbourne, Sydney, Brisbane, Perth and Adelaide. CRF provides a full suite of property services including retail development, property management, leasing, financial, sustainability and fund administration. For more information, please visit the CRF website at crfinvestor.com.au.
For further information please contact: Brandon Phillips
General Manager External Affairs
+61 3 8847 0033 firstname.lastname@example.org