FLT and FCOT unitholders approve merger

Unitholders for both Reits give overwhelming approval for the merger at EGMs and a Trust Scheme Meeting

Published Wed, Mar 11, 2020 · 09:50 PM

Singapore

FRASERS Logistics & Industrial Trust (FLT) and Frasers Commercial Trust (FCOT) unitholders have voted overwhelmingly to approve a proposed merger, the managers of both trusts said on Wednesday. They also approved the proposed acquisition of Farnborough Business Park in the United Kingdom by the enlarged entity.

Voting took place at extraordinary general meetings (EGMs) and a Trust Scheme Meeting on Wednesday.

At FLT's EGM, the resolution on the proposed merger was approved with 99.85 per cent of the total number of valid votes cast. The resolution on the proposed allotment and issuance of new FLT units to FCOT unitholders as part of the consideration for the merger was approved with 99.78 per cent of votes cast. And t…