RECOMMENDED ALL-SHARE MERGER OF ABRDN PROPERTY INCOME TRUST LIMITED
with
CUSTODIAN PROPERTY INCOME REIT PLC
to be implemented by means of a Court-sanctioned scheme of arrangement under Part VIII of the Companies (Guernsey) Law, 2008 (as amended)
Summary and highlights
The boards of Custodian Property Income REIT plc ("CREI") and abrdn Property Income Trust Limited ("API") are pleased to announce that they have reached agreement on the terms and conditions of a recommended all-share merger pursuant to which CREI will acquire the entire issued and to be issued share capital of API (the "Merger"). It is intended that the Merger will be implemented by means of a Court-sanctioned scheme of arrangement under Part VIII of the Companies Law (the "Scheme").
Under the terms of the Merger, Scheme Shareholders will receive:
for each Scheme Share, 0.78 New CREI Shares
https://www.hl.co.uk/feeds/apps/rns?id=34035381
I wondered why the big jump earlier this morning. It seems ABRDN Property Income Trust (API) and Custodian Property Income REIT plc (CREI).
Dividends for Q4 (API) at 1p and Q3 (CREI) at 1.375 are expected to remain and paid by the end of February 2024.
My first interest is my holding in API and they will issue a circular (the "Scheme Document") which will include full details of the Scheme within 28 days.
It Makes for interesting reading and it looks like DREI have a similar dividend policy to API. We wait ...
midgesgalore