Unitholders in ESR-REIT voted overwhelmingly in favour of the merger with ARA LOGOS Logistics Trust (ALOG) at an extraordinary general meeting (EGM) held on March 21.
Following the EGM, the manager of ESR-REIT revealed that shareholders holding 98.57% of units within the REIT voted for the merger.
The percentage represents some 1.205 billion of units within ESR-REIT’s total of 1.222 billion units.
During the EGM, shareholders holding 98.44% of units in ESR-REIT also voted in favour of the proposed issue of new units to ALOG’s unitholders at an issue price of 49.24 cents per unit as part of the consideration for the merger.
Units in ESR-REIT last traded at 42 cents before its trading halt on the morning of March 21.
Photo: ESR-REIT
