31st May 2023 17:18
Industrials REIT Ltd - London-based real estate investment trust - Shareholders pass motion at both court meeting and general meeting for the proposed acquisition by Blackstone Inc at 168 pence per share, valuing the entire issued and to be issued share capital of the group at about GBP511.2 million on a fully diluted basis. Says court meeting passed offer with 99.8% of shareholders voting for the motion, which was mirrored at the general meeting. The effective date of the scheme is expected to be June 21, alongside the delisting of Industrial REIT shares in London, followed by delisting in Johannesburg expected on June 27.
Earlier May, Industrials REIT said the offer represents a premium of 42.4% to the closing price of 118.0p on March 31, being the last business day prior to the commencement of the offer period.
Current stock price in London: 165.46 pence, down 0.9%
12-month change: down 8.3%
Current stock price in Johannesburg: ZAR41.00, up 1.2%
12-month change: up 14%
By Greg Rosenvinge, Alliance News reporter
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