The chain offer for SPH REIT made by Cuscaden Peak has turned unconditional.
As at 6pm on June 1, Cuscaden Peak had received valid acceptances of the offer from some 130.06 million units, or 4.64% of the total number of units issued in the REIT.
The acceptances now bring the units owned or controlled by Cuscaden Peak to 1.46 billion units, or 51.96% of the total number of units issued in the REIT. The number also represents some 51.90% of the maximum potential issued units in SPH REIT, satisfying the minimum acceptance condition of Cuscaden Peak holding over 50% of the maximum potential issued SPH REIT units.
As the chain offer has become unconditional, the closing date for the offer will be extended to 5.30pm, on June 30.
Units in SPH REIT closed flat at 94.5 cents on June 1.
