Sharechat Logo

Proposal for VHP ASX foreign exempt listing not proceeding

Thursday 2nd April 2020

Text too small?

NorthWest Healthcare Properties Management Limited (the Manager), the manager of Vital Healthcare Property Trust (Vital), refers to its proposal to restructure Vital to facilitate a foreign exempt listing on the Australian Securities Exchange (ASX), as described in the Notice of Meeting dated 28 February 2020.

At the special meeting re-convened on 2 April 2020 on a virtual basis, unitholders were asked to vote on the proposal by special resolution. 

The Manager advises that the special resolution received 115,369,345 (66.2%) votes in favour, 58,991,364 (33.8%) were received against, and 116,774,941 abstained. 

As a result, the proposal to restructure Vital to facilitate an ASX foreign exempt listing did not meet the required 75% threshold and will not be proceeding. NorthWest, who was supportive, was unable to vote on its ~25% holding of units for technical reasons under the Financial Markets Conduct Act 2013 and abstained. 

Aaron Hockly, Fund Manager of Vital, commented: “It is disappointing that the proposal will not proceed. I would like to thank unitholders for their engagement and feedback over many months as well as the board, my colleagues and our advisers for all their hard work over the last 12+ months”.

Source: NZX



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Talisman Quarterly Activities Report to 30 June 2020
General Capital gives notice of Annual Meeting
Scales Corporation - Business Update
Fonterra Co-operative Group Global Dairy Update
Fonterra revises its 2019/20 and 2020/21 forecast Farmgate Milk Price ranges
Briscoe Group Limited Market update: 2nd Quarter Sales to 26 July 2020
thl market update - A frame work for 2021
Me Today - Outcome Of Share Purchase Plan Offer
Maxigesic IV® licensed in six new European nations
Evolve Shareholder Update

IRG See IRG research reports