Fabcot Pty Ltd. executed a sale and purchase agreement to acquire Airlie Central Shopping Centre development site from Queensland Resorts Pty Ltd for AUD 3.3 million on August 9, 2012. The transaction is subject to several conditions including regulatory approval, final feasibility proof of construction costs and reconfiguration of adjoining parcels of land owned by Trustees Australia entities and commitment for upgrade works in the adjoining Whitsunday Village specialty shopping centre partially owned by Trustees Australia and its associates. The transaction is expected to close by the end of year 2012. The sale will have minimal effect on the profit result for the period in which sale is completed but will have a positive effect on cash position of Trustees Australia.

As of October 16, 2012, all conditions have been satisfied except Trustees Australia to complete all the title issuance and registration of easements for an approved reconfiguration of adjoining parcels of land owned by Trustees.