The managers of Singapore-listed Croesus Retail Trust will hold a dialogue session with its unitholders in a bid to garner support for a proposed privatisation.
The trust first announced in June 2017 that a subsidiary of The Blackstone Group, Cyrus Bidco Pte Ltd, has offered to acquire all the issued units in Croesus Retail Trust in cash for SGD1.17 per unit.
For the transaction to proceed, Croesus Retail Trust needs to secure the approval of unitholders holding in aggregate not less than 75% of the voting rights, and the approval of more than 50% in number of unitholders representing at least 75% in value of the units in circulation.
A meeting to seek the approvals of the unitholders will be held on 13 September 2017.
In preparation for this meeting, Croesus Retail Trust has partnered with the Securities Investors Association (Singapore) or SIAS, to hold the dialogue session, which will include senior managers of the trust.
The dialogue session will be held on 30 August 2017 at the Mandarin Oriental from 3-5pm, and will be open to unitholders of Croesus Retail Trust only.
Unitholders are not permitted to appoint a proxy to attend the dialogue session and are required to bring a copy of their latest proof of unitholdings and identification for verification purposes.
Unitholders who are keen to attend the dialogue session are to indicate their interest latest by 28 August 2017 to SIAS at +65 6227 2683 firstname.lastname@example.org
Units of Croesus Retail Trust are currently listed on the Singapore Exchange at SGD1.20.