Conditional Increase in Offer Price: RNY

Aurora Funds Management Limited (Aurora), as responsible entity of the Aurora Property Buy-Write Income Trust (AUP), announces that it proposes, if certain conditions (as set out below) are satisfied, to vary its takeover offer for units in RNY (Offer) by increasing the consideration offered from 1.5 cents (Initial Offer) to 1.7 cents per RNY Unit (Improved Offer).

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