Continuous Disclosure & Updates

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Property Trust 12 (Trust) have been increased by 0.25 cents per unit (cpu) to 6.50 cpu from 1 July 2024, with July’s distribution at the increased rate due to be paid on or around 9 August 2024.

Distributions will continue to be paid monthly.

CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

An external valuation of 19 George Street, Dandenong has been obtained as at 30 June 2024.

The property’s valuation has decreased to $93.5 million, as a result of the capitalisation rate softening to 6.50%. This is a 6.5% decrease from the 31 December 2023 valuation of $100 million.

The asset remains 99.3% occupied, with a weighted average lease expiry of 6.0 years.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of 19 George Street, Dandenong has been obtained as at 31 December 2023.

The valuation of the property has decreased to $100 million, as a result of the capitalisation rate softening to 6.00%. This is a 9.9% decrease from the 30 June 2023 valuation of $111 million.

The asset remains 99.3% occupied, with a weighted average lease expiry of 6.5 years, and continues to perform for unitholders.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the 19 George Street, Dandenong asset as at 30 June 2023 has resulted in an updated valuation of $111 million. This is a 10.5% decrease from the 30 September 2022 valuation of $124 million, with the capitalisation rate softening from 4.88% to 5.50%.

The asset remains 99.9% occupied, with a weighted average lease expiry of 7 years, and continues to perform for unitholders.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Property Trust 12 (Trust) have been increased by 0.25 cents per unit (cpu) to 6.25 cpu from 1 July 2023, with July’s distribution at the increased rate due to be paid on or around 9 August 2023.

Distributions will continue to be paid monthly.

CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.
^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

An external valuation of the 19 George Street, Dandenong asset as at 30 September 2022 has held at the current value of $124 million.

The asset continues to perform for unit holders.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Property Trust 12 (Trust) have been increased by 0.25 cents per unit (cpu) to 6.00 cpu from 1 July 2022, with July’s distribution at the increased rate due to be paid on or around 9 August 2022.

Distributions will continue to be paid monthly.

CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the 19 George Street, Dandenong asset as at 31 October 2021 has provided good news for the Cromwell Property Trust 12 unitholders: a 16% increase in the value of the asset to $124 million, up from $107 million as at 31 October 2020.

The increase was underpinned by an increase in rental income and a reduction in the capitalisation rate.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Cromwell Funds Management Limited (CFM) announces that distributions for the Cromwell Property Trust 12 (Trust) will change to 5.75 cents per unit (cpu) from 1 July 2021 (payable August 2021).

The new rate of 5.75 cpu payable in the 2022 financial year was outlined in the Forecast Distribution Statement disclosed in Section 8.3 of the Notice of Meeting and Explanatory Memorandum dated 13 November 2020.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Cromwell Funds Management Limited (CFM) has successfully entered into an interest rate cap arrangement in relation to the Cromwell Property Trust 12, at a strike price of 0.689%, versus the current 3 month BBSY (floating rate). The interest rate cap provides protection against future increases in interest rates above 0.689% per annum, whilst giving unitholders the benefit of current low interest rates.

The new bank facility entered into on 24 February 2021 (see Continuous Disclosure Notice dated 4 March 2021 for further information) and the strike price of the interest rate cap, reduces the maximum interest rate payable by the Trust by 0.17% per annum, as compared to the rate forecast in the Notice of Meeting and Explanatory Memorandum, whilst providing material benefits whilst interest rates remain below 0.689%.

The interest rate cap cost $1 million, taking the Trust’s total debt to $38 million, considered to be an immaterial increase in the LVR from 34.5% to 35.5%.

The interest rate cap’s expiry aligns with the loan facility expiry date of February 2026, which is beyond the October 2025 maturity date for the Trust’s second Term. The facility is fully drawn.

Management and directors of CFM considered this the best option and in Unitholders’ best interests.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Cromwell Funds Management Limited (CFM) has successfully finalised a new $37 million debt facility (Facility) for the Cromwell Property Trust 12 (Trust) with an Australian bank, replacing the Trust’s existing $41 million debt facility. The new Facility has an expiry date of February 2026, which is beyond the October 2025 maturity date for the Trust’s second Term. The Facility is fully drawn.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Cromwell Property Trust 12 (Trust) unitholders have voted to approve both resolutions required to implement the Rollover Proposal, as detailed in the Notice of Meeting and Explanatory Memorandum dated 13 November 2020*.

A successful ‘For’ vote on Resolution 1 extends the Trust Term by five years, until 31 October 2025.

In addition, a successful ‘For’ vote on Resolution 2 results in the approval of the proposed amendments to the Trust’s Constitution by way of a Supplemental Deed.

The result of the vote at the meeting is as follows:

Resolution 1 – Further Term Resolution (Extraordinary Resolution)

53,863,533 votes in total were cast, the equivalent of 84.18% of the total votes that may have been cast by Trust unitholders eligible to vote on the resolution.
52,993,533 units (612 unitholders) voted in favour of Resolution 1 (For), representing 82.82% of the total votes that may have been cast by eligible unitholders (thus exceeding the required 50%).
870,000 units (22 unitholders) voted against Resolution 1 (Against), representing 1.36% of the total votes that may have been cast by eligible unitholders.
50,000 units (2 unitholders) abstained from voting on Resolution 1.

Resolution 2 – Constitutional Amendment Resolution (Special Resolution)

53,803,533 votes in total were cast.
53,033,533 units (615 unitholders) voted in favour of Resolution 2 (For), representing 98.57% of the total votes cast by eligible unitholders (thus exceeding the required 75%).
770,000 units (17 unitholders) voted against Resolution 2 (Against), representing 1.43% of the total votes cast by eligible unitholders.
110,000 units (4 unitholders) abstained from voting on Resolution 2.

As a result, the successful ‘For’ vote on Resolution 2 effectively sets in motion the Matching Facility, allowing unitholders that nominated to either buy or sell units to do so (subject to scale back).

CFM has now begun the process of reconciling the purchase and sale of units for those unitholders who elected to participate in the Matching Facility. The results of the scale back will be available on this webpage on completion of the reconciliation (expected on or around 23 December 2020¹), and excess funds for any scale back will be returned via unitholder distribution accounts on the same day.

For unitholders that elected to sell all or part of their units, settlement – including transfer of funds and units, is due to occur on 8 January 2021¹. In addition, all new unit purchases will also be allocated to purchasing unitholders’ existing balances on the same day.

A summary of key dates for the implementation of the Rollover Proposal are as follows¹:

Event	Date
Allocations for buying Unitholders determined / potential scale-back for selling Unitholders determined	Friday 18 December 2020 – Wednesday 23 December 2020
Unitholders notified of Matching Facility scale-back and over-subscription monies refunded (if applicable)	On or around Wednesday 23 December 2020
Settlement date for the Matching Facility / Transfer Date of Units / Transaction Statements posted	Friday 8 January 2021
The Further Term commences (if approved by Unitholders)	Sunday 1 November 2020

Cromwell Funds Management would like to thank all Unitholders for participating in the vote and looks forward to providing ongoing management and investor services throughout the Further Term.

Contact Us

If you have any questions in relation to the vote or your resulting unit balance, please contact Cromwell’s Investor Services Team on 1300 268 078.

^{1. All dates following the Meeting are indicative only. CFM reserves the right to vary these dates without prior notice although CFM will endeavour to achieve these dates. Any changes to the above dates will be announced at www.cromwell.com.au/c12.}

^{*Refer to the Notice of Meeting and Explanatory Memorandum dated 13 November 2020 for further details. To view the Notice of Meeting and Explanatory Memorandum, please click here.}

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

As responsible entity of the Cromwell Property Trust 12 (Trust), Cromwell Funds Management Limited (CFM) wishes to advise an amendment to the closing date and time for receipt of both Buy and Sell Forms and application monies for the Trust’s Matching Facility.

Originally closing on Thursday 17 December 2020 as outlined in the Notice of Meeting and Explanatory Memorandum dated 13 November 2020, the closing time and date for receipt of both Buy and Sell Forms and application monies for the Trust’s Matching Facility is now amended to 5pm (AEST) on Friday 18 December 2020.

The timetable is now as follows¹

Event	Date
Last date and time for receipt of Proxy Forms	1pm (AEST) on Tuesday 15 December 2020
Payment of Special Distribution from Rand Sale²	Wednesday 16 December 2020
Meeting of Unitholders	1pm (AEST) on Thursday 17 December 2020
Last date and time to lodge the Buy Form and the Sell Form with accompanying funds to apply to purchase/sell Units	5pm (AEST) on Friday 18 December 2020
Announcement of voting results on www.cromwell.com.au/c12vote	5pm (AEST) on Friday 18 December 2020
Allocations for buying Unitholders determined / potential scale-back for selling Unitholders determined	Friday 18 December 2020 – Wednesday 23 December 2020
Unitholders notified of Matching Facility scale-back and over-subscription monies refunded (if applicable)	Friday 18 December 2020 – Wednesday 23 December 2020
Settlement date / Transfer Date of Units / Transaction Statements posted	Friday 8 January 2021
The Further Term commences (if approved by Unitholders)	Sunday 1 November 2020

^{1. All dates following the date of the Meeting are indicative only and are subject to satisfaction of the conditions precedent to the implementation of the Rollover Proposal (see Section 5.5 on page 13 of the Notice of Meeting and Explanatory Memorandum dated 13 November 2020). CFM reserves the right to vary these dates without prior notice. Any changes to the above timetable will be announced at www.cromwell.com.au/c12vote.}

^{2. Date is indicative only and requires the settlement to occur as forecast on the 14th of December 2020.}

Establishment of the Matching Facility is conditional on Unitholder approval of the Rollover Proposal as outlined in the Notice of Meeting and Explanatory Memorandum dated 13 November 2020.

Further information about the Trust, the Rollover Proposal and the Matching Facility also be found on the dedicated Meeting web page at www.cromwell.com.au/c12vote.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

On 13 November 2020 Cromwell Funds Management (CFM) provided all Unitholders in the Cromwell Property Trust 12 (Trust) with a proposal to extend the Trust (Rollover Proposal). As part of the Rollover Proposal, an external valuation of the 19 George Street, Dandenong asset as at 31 October 2020 has provided good news for Trust unitholders: a 7% increase in the value of the asset to $107 million, up from $100 million as at 30 June 2020.

The provisional net tangible asset value (NTA) of the Trust increased to $1.57 at 31 October 2020, up from $1.40 per unit at 30 June 2020 as a result of the revaluation of the 19 George Street, Dandenong asset and incorporation of the net sale price of the Rand Distribution Centre.

Further information about the Rollover Proposal can be found in the Notice of Meeting and Explanatory Memorandum dated 13 November 2020 or at www.cromwell.com.au/c12vote.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Following on from the sale campaign for the Rand Distribution Centre, located in Direk, South Australia, Cromwell Funds Management Limited (CFM) has signed a contract for the sale of the property, for a sum of $63,050,000. The price achieved is an exceptional result given the property was last independently valued at $53,000,000 in September 2019. The asset was acquired in 2013 with an ‘as if complete’ value of $32,750,000.

Prior to the end of the Trust term, CFM intends to put a proposal to unitholders to retain the asset at 19 George Street, Dandenong, which accommodates the Australian Taxation Office, and to extend the Trust term. Details of any such proposal will be sent to all unitholders and would require a unitholder vote to proceed with any extension.

CFM expects to make a special distribution of sale proceeds of the Rand Distribution Centre following settlement. Details of the distribution will be provided within the Notice of Meeting and Explanatory Memorandum detailing the vote and proposed Trust term extension.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Cromwell Funds Management Limited (CFM) has successfully negotiated an extension of the existing Cromwell Property Trust 12 (Trust) bank loan in anticipation of the potential sale of the Rand Distribution Centre and upcoming maturity of the Trust in October 2020.

The bank loan was due to expire on 30 September 2020.

The varied facility now includes an initial 12-month term (with no early repayment fee in the first 12 months), with an option to extend the facility for a further four years. The structure provides security of tenure with flexible options to the Trust without incurring the upfront establishment costs of a 5-year facility. Extension of the loan would only be enacted if unitholders decided to extend the term of the Trust beyond maturity in October 2020.

CFM expects to put a proposal to unitholders to retain the asset at 19 George Street, Dandenong, which accommodates the Australian Taxation Office, and to extend the Trust term following completion of the marketing campaign for the Rand Distribution Centre which is currently underway. Details of any such proposal will be sent to all unitholders and would require a unitholder vote to proceed with any extension.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Cromwell Funds Management (CFM) has commenced marketing for sale the Rand Distribution Centre, located in Direk, South Australia. The asset is one of the two remaining assets held by the Cromwell Property Trust 12 (Trust). Completed in December 2013, the asset was extended in December 2015, triggering a new 20-year lease. The acquisition price of the asset was $32,750,000. The asset is currently held within the Trust at a valuation of $53,000,000, as at the last external valuation in September 2019.

Marketing of the asset will commence shortly via a comprehensive campaign with settlement not taking place prior to the end of the Trust term in October 2020.

Following the completion of the marketing campaign for the Rand Distribution Centre, CFM expects to put a proposal to unitholders to retain the 19 George Street, Dandenong asset, which accommodates the Australian Taxation Office, and to extend the Trust term for a further term. Details of any such proposal will be sent to all unitholders and would require a unitholder vote to proceed with any extension.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

An external valuation of the 19 George Street, Dandenong asset, VIC as at 30 June 2020 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 2.6% increase in the value of the asset to $100 million, up from $97.5 million as at 07 April.

The increase in value was underpinned by an advancement in the COVID-19 rental relief negotiations. The increase restores the asset value to its pre-COVID-19 level.

The value of the Rand Distribution Centre, located in Direk, SA, remains unchanged at $53 million, as at 30 September 2019.

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.40 at 30 June 2020, up from $1.38 per unit at 7 April 2020, as a result of the revaluation.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Property Trust 12 (Trust) have been increased by 0.25 cents per unit (cpu) from 1 July 2020.

The increase takes the distribution to 9.25% per annum, based on the unit issue price of $1.00. Distributions will continue to be paid monthly.

CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Cromwell Funds Management COVID-19 Asset Valuations Update

COVID-19 continues to be an unprecedented global event and Cromwell recognises the urgent nature of the emergency, our responsibility to help ‘flatten the curve’ and contribute to the ensuing recovery in all the countries, cities and communities in which we operate.

Cromwell CEO, Paul Weightman, has stated, “We are conscious that we have a wide range of stakeholders including employees, securityholders, tenants, suppliers, contractors and service providers impacted by COVID-19.”

“We will act in a responsible way that balances the interests of all stakeholders and to ensure that the impact of the pandemic is not borne unfairly by any one particular group,” he added.

Cromwell Funds Management Unlisted Property Funds

Cromwell Funds Management (CFM) understands that many investors are concerned about the impact the COVID-19 crisis might have on their investment balance in one of CFM’s unlisted property funds.

Unlike listed markets which provide transparent, albeit often volatile pricing, assessing the valuation of unlisted assets is more difficult at a time when there is little transactional activity to allow for the benchmarking, and then valuing, of an asset. It is clear, however, that property and other asset types have been adversely affected by the crisis.

CFM has a fiduciary duty to ensure that all investors in the funds, those applying for new units and those redeeming their units are treated equitably.

CFM has therefore quantified the valuation impact on a tenant by tenant basis based off current information. As a result, the valuations of directly held property assets within the Cromwell Direct Property Fund, Cromwell Riverpark Trust, Cromwell Ipswich City Heart Trust and Cromwell Property Trust 12 have been devalued by 5.9%, 1.4%, 2.4% and 1.6% respectively.

The revaluations have now been included in each Fund’s unit pricing and are consistent with many superannuation funds and unlisted property fund managers who have reduced valuations of unlisted property and infrastructure assets in a range of 7% to 10%.

Based on information currently available there is no change to forecast distributions across the Funds and the Cromwell Direct Property Fund remains open for investment.

CFM will continue to monitor the property investment market closely to ensure the pricing of our unlisted assets remains appropriate and that all investors are treated equitably.

If you have any questions or would like to speak to someone about your investment, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the Rand Distribution Centre, located in Direk, SA as at 30 September 2019 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 1.9% increase in the value of the asset to $53 million, up from $52 million as at 31 March 2019.

The increase in value was underpinned by increased rental.

The Trust also benefited from an external valuation of the 19 George Street, Dandenong asset, VIC as at 30 September 2019: a 5.0% increase in the value of the asset to $100 million, up from $95.2 million as at 30 September 2018.

The increase in value was underpinned by a reduction in the capitalisation rate.

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.40 at 30 September 2019, up from $1.34 per unit at 31 March 2019, as a result of the revaluations.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Property Trust 12 (Trust) have been increased by 0.25 cents per unit (cpu) from 1 July 2019.

The increase takes the distribution to 9.0% per annum, based on the unit issue price of $1.00. Distributions will continue to be paid monthly.

CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the Rand Distribution Centre, located in Direk, SA as at 31 March 2019 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 4.5% increase in the value of the asset to $52 million, up from $49.75 million as at 31 December 2018.

The increase in value is underpinned by a reduction in the capitalisation rate.

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.35 at 31 March 2019, up from $1.33 per unit at 31 December 2018, as a result of the revaluation.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An internal valuation of the Rand Distribution Centre, located in Direk, SA as at 31 December 2018 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 1.5% increase in the value of the asset to $49.75 million, up from $49 million as at 31 March 2018.

The increase in value was underpinned by increased rental.

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.33 at 31 December 2018, up from $1.32 per unit at 30 September 2018, as a result of the revaluation.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the 19 George Street, Dandenong asset as at 30 September 2018 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 1.3% increase in the value of the asset to $95.2 million, up from $94 million as at 30 September 2017.

The increase in value was underpinned by a reduction in the capitalisation rate, an increase in passing rent, but a softer market rent adopted by the valuer

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.32 at 30 September 2018, up from $1.31 per unit at 30 June 2018, as a result of the revaluation.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

Cromwell Funds Management Limited (CFM) is pleased to announce that distributions for the Cromwell Property Trust 12 (Trust) have been increased by 0.25 cents per unit (cpu) from July 2018.

The increase takes the distribution to 8.75% per annum, based on the unit issue price of $1.00. Distributions will continue to be paid monthly.

CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the Rand Distribution Centre, Direk, SA asset as at 31 March 2018 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 6.5% increase in the value of the asset to $49 million, up from the valuation of $46 million as at 31 March 2017.

The increase in value was underpinned by a decrease in the capitalisation rate.

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.32 at 31 March 2018, up from $1.28 per unit at 31 December 2017 as a result of the revaluation.

If you have any questions, please contact Cromwell’s Investor Services Team on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

Download the latest Cromwell Property Trust 12 Disclosure Guide here.

An external valuation of the 19 George Street, Dandenong asset as at 30 September 2017 has provided good news for Cromwell Property Trust 12 (Trust) unitholders: a 1.1% increase in the value of the asset to $94.0 million, up from $93 million as at 30 June 2017.

The increase in value was underpinned by an increase in passing rent.

The provisional net tangible asset value (NTA) of the Trust is forecast to increase to $1.28 at 30 September 2017, up from $1.27 per unit at 30 June 2017 as a result of the revaluation.

If you have any questions, please contact Cromwell Investor Services on 1300 CROMWELL (1300 276 693) or email invest@cromwell.com.au.

^{Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Property Trust 12 ARSN 166 216 995 (Trust). In making an investment decision in relation to the Trust, it is important that you read the product disclosure statement dated 29 October 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au/c12 or by calling Cromwell’s Investor Services Team on 1300 268 078. The Trust is not open for investment. This notice has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Trust fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this notice. If you acquire units in the Trust, CFM and certain related parties may receive fees from the Trust and these fees are disclosed in the PDS.}

^{Please note: Any investment, including an investment in the Trust, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not a reliable indicator of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Trust are subject to the risks and assumptions set out in the PDS.}

View full update here.

Cromwell Funds Management Limited (“CFM”) is pleased to announce that distributions for the Cromwell Property Trust 12 (“Trust”) have been increased by 0.25 cents per unit (“cpu”) from July 2017.

The increase takes the distribution to 8.50% per annum, based on the unit issue price of $1.00. Distributions will continue to be paid monthly.
CFM’s decision to increase distributions by the Trust was underpinned by an increase in annual rental income.