Resolutions 1 and 2 are interdependent while resolution 3 depends on Resolutions 1 and 2 being passed.
SINGAPORE (Mar 6): On the morning of March 11, at 10 am, unitholders of Frasers Logistics and Industrial Trust (FLT) will be voting by a scheme of arrangement to merge with Frasers Commercial Trust (FCOT). It is more or less a foregone conclusion that FLT’s unitholders will vote in favour of the merger.
FLT’s independent financial adviser (IFA) has recommended to its independent directors to vote in favour of the resolutions. They, in turn, recommend FLT unitholders vote in favour of three resolutions. Resolution 1 is for the merger to be approved; Resolution 2 is to approve the issuance of new units as part payment for FCOT and Resolution 3 is to approve the acquisition of the remaining 50% interest in Farnborough Business Park from Frasers Property that FCOT does not own.
