Offer to unitholders now 19 June
National Property Trust has set back by another week its indicative timetable for the takeover offer for Newmarket Property Trust.
National changed the original anticipated timetable on Monday 20 May and again on Friday 24 May.
Actual timing will depend on whether the Securities Commission grants National an exemption from issuing a prospectus.
Subject to that, National said on Friday it wants to deliver its notice of takeover intention to Newmarket on Tuesday 4 June, send its offer to unitholders on Wednesday 19 June and close the offer on Friday 19 July.
National’s 6-for-10 bid prices Newmarket at 57c/unit.
Original story: National bids for Newmarket trust again