You are here

Viva Industrial Trust stapled securities to be delisted from Oct 22 in line with ESR-Reit merger

IN line with the merger of ESR-Reit (real estate investment trust) and Viva Industrial Trust (VIT), both parties on Wednesday announced the payment of the scheme consideration from ESR-Reit to VIT on Oct 17, and the upcoming delisting of VIT's stapled securities with effect from Oct 22.

ESR-Reit's manager also announced the issuance of an aggregate of 1.59 billion new ESR-Reit units in connection with the merger. This comprises 1.56 billion consideration units at an issue price of S$0.54 each, as part of the scheme consideration paid to holders of VIT's stapled securities, and 23.8 million new units in payment of the acquisition fee for the merger.

This brings the total number of ESR-Reit units in issue to about 3.17 billion as at the announcement date. The new units will be issued and quoted on the Singapore Exchange mainboard with effect from 9am on Oct 17.

The VIT managers also said the amount of clean-up distribution per stapled security will be announced on Oct 19. Holders of its stapled securities whose accounts with the Central Depository are credited with stapled securities as at 5pm on Oct 8 will be entitled to the clean-up distribution, to be paid on or around Nov 9.

sentifi.com

Market voices on:

ESR-Reit units closed up 1.5 Singapore cents or 3 per cent at 51.5 Singapore cents on Wednesday.