The two resolutions are inter-conditional, meaning in the event that either resolution fails, the remaining resolution will not proceed. In this case, each of the resolutions must be passed by more than 50% of the total number of votes cast.
Manulife US REIT (MUST), still US$55.6 million ($72.1 million) short of its end-2025 divestment target, is seeking unitholders' approval to sell up to three existing properties and to make acquisitions beyond the US office sector into industrial, living and retail assets in US and Canada.
The manager of MUST announced on Dec 1 an Extraordinary General Meeting (EGM) on Dec 16 to table two resolutions: a disposition mandate to sell up to three existing properties to raise not more than US$350 million, and an acquisition mandate to buy one or more properties and investments outside the office sector not exceeding US$600 million.
