Manager discloses indicative timeline of ESR-Reit-Ara Logos Logistics Trust merger

THE transfer books and the registers of ESR-Reit J91U unitholders and Ara Logos Logistics Trust K2LU : K2LU 0% unitholders will be closed at 5pm on Apr 21 to determine the entitlements of these unitholders to their respective clean-up distributions for the period from Jan 1 up to a day before the effective date of their merger.

ESR Funds Management, in its regulatory filing as ESR-Reit's manager on Tuesday (Apr 12), provided an indicative timeline on events taking place till the merger becomes effective.

ESR said that the court-sanctioned scheme for the merger of the 2 real estate investment trusts (Reits) is expected to be effective on Apr 22, with the court hearing scheduled to take place on Apr 18.

Ara Logos Logistics Trust units are expected to stop trading on the Singapore Exchange on Apr 19, while ESR-Reit units will begin trading on an "ex-distribution" basis on Apr 20.

The date that Ara Logos Logistics Trust unitholders will receive payment of cash and issuance of the units in the merged Reit - known as ESR-Logos Reit - is expected to be Apr 28, the same date when the merged Reit starts trading on the bourse.

Ara Logos Logistics Trust unitholders are entitled to 9.7 Singapore cents in cash and 1.7729 in ESR-Reit units for every unit of Ara Logos Logistics Trust they own.

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ESR-Reit units and Ara Logos Logistics Trust units both traded flat at S$0.415 and S$0.825 respectively on Tuesday at market close.

READ MORE:

• ESR-Reit, ALog Trust unitholders vote in favour of merger to form ESR-Logos Reit

• ARA Logos minorities may support merger with ESR-Reit, but not because it's a good deal

• Should Ivanhoe Cambridge be allowed to vote on ARA Logos' merger with ESR-Reit?   

• Proxy advisory says ALog-ESR deal process 'questionable', recommends voting against merger