After the partial offer announcement date and after the units had commenced trading on an ex-distribution basis, from Feb 6 onwards, the ex-distribution offer price represented a premum of 6% anpve the VWAP of the units.
In a circular to Sabana Industrial REIT’s unitholders dated Feb 24, the independent directors of Sabana REIT’s manager have recommended that unitholders accept Volare Group’s partial offer for 10% of Sabana REIT. The offer price is $0.465 in cash and the ex-distribution offer price will be $0.4504.
The offer price is at a premium above the historical volume weighted average price (VWAP) of the units over the last one-month, three-month, six-month, one-year, two-year, three-year and five-year periods prior and up to the partial offer announcement date. The premium ranges from 5.7% to 15.4% above the VWAP of the units.
