Further to the announcement dated 3 March 2017, Centuria Property Funds Limited (CPFL) as Responsible Entity for Centuria Metropolitan REIT (CMA) today announces that it and Centuria Property Funds No. 2 Limited (CPF2L) as Responsible Entity for Centuria Urban REIT (CUA) have amended the Scheme Implementation Agreement (SIA).
The SIA has been amended to state that the Merger is conditional upon CMA unitholders approving the acquisition of units in CUA held by a subsidiary of Centuria Capital Group (CNI) for the purposes of ASX Listing Rule 10.1 (the CNI Acquisition) and to make subsequent amendments to the timetable. CNI currently holds 19.99% of the CUA units on issue.
In consultation with the ASX, it was determined that as CNI is a related party of CPFL, CMA unitholders would be given the opportunity to vote on the CNI Acquisition.