NPT Ltd expects to conclude arrangements with Kiwi Property Group Ltd in the next few days on Kiwi’s proposal for NPT’s future.
NPT chief executive Tony Osborne said today the company expected to hold a special shareholder meeting in April.
Kiwi has proposed:
It will sell The Majestic Centre & North City Shopping Centre (the Kiwi Properties) to NPT for $230 million
It will pay NPT a one-off $6 million to acquire the right to manage NPT & its property portfolio, and
It will take a cornerstone shareholding in NPT of about 19.9%.
6 March 2017: NPT works through detail of Kiwi bid
12 January 2017: Augusta drops court action but NPT meeting likely delayed
8 January 2017: NPT interim report shows company treading water
14 December 2016: Kiwi proposal for NPT revealed
2 December 2016: Augusta gets February court date while NPT continues with meeting plan
23 November 2016: Lack of revaluations halves NPT profit
4 November 2016: NPT considering more than just Augusta’s proposal
31 October 2016: Fourth era for NPT a hard option to combat
27 September 2016: Augusta buys 9% of NPT
Attribution: Company release.