OUE subsidiary receives nod to acquire stake in First REIT and its manager

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A plan by a subsidiary of OUE Limited to acquire stakes in First REIT and its manager has received the green light.

The approval was obtained at an extraordinary general meeting (EGM) of the subsidiary, OUE Lippo Healthcare Limited (OUELH), on 11 October.

99.98% of the company’s shareholders voted in favour of two ordinary resolutions raised at the EGM in relation to the acquisitions.

These are namely the acquisition of 400,000 ordinary shares, representing 40% of the total issued share capital of First REIT’s manager, and the indirect acquisition of 83,593,683 units in First REIT itself.

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