Thursday 21st April 2011 |
Text too small? |
Plans to internalise the management of the Vital Healthcare Property Trust include a $14 million payment to the current managers.
The trust today said directors of manager Vital Healthcare Management had agreed with the manager's shareholder OnePath (NZ) to make progress on the potential internalisation of the rights to manage the trust.
OnePath is wholly owned by ANZ Bank.
Yesterday it was announced a proposal to internalise the management of Argosy Property Trust - for which OnePath is also the shareholder of the manager - included a $32.5 million payment to the trust's manager.
As at December 31, Vital's investment properties were valued at $517.5 million, while in November Argosy said its portfolio of 81 properties was worth $946 million.
The proposals are conditional on approval by unit holders and trustees, who are to be provided with independent reports on the proposals by Grant Samuel & Associates.
It is expected the proposals will be completed during August, after a unit holder meeting and subject to approval.
NZPA
No comments yet
AIA - Announces books closed for retail bond offer
May 8th Morning Report
NZ-UAE free trade on the table
ANZ - 2024 Half Year Results Documents
FWL - Foley Wines Limited 2024 Harvest
IKE Closes Major Multi-Year Subscription Deals
AIA - 2024 Macquarie Australia Conference Overview of AIA
Devon Funds Morning Note - 06 May 2024
EROAD FY24 Results and Webinar Details
thl reduces FY24 NPAT guidance