Custodian Property Income REIT plc: Update on recommended all-share merger with abrdn Property Income Trust Limited (“API”) and improvement in management arrangements and fees for the Combined Group
Further to the previous announcements by the board of directors of CREI (the “CREI Board”) regarding the recommended all-share merger of API and CREI (the “Recommended Merger”), the CREI Board provides an update reaffirming its belief in the compelling strategic and financial rationale of the Recommended Merger and announces further improvements to the management arrangements and fees for the Combined Group.
- Further to the previous announcements by the board of directors of CREI (the “CREI Board”) regarding the recommended all-share merger of API and CREI (the “Recommended Merger”), the CREI Board provides an update reaffirming its belief in the compelling strategic and financial rationale of the Recommended Merger and announces further improvements to the management arrangements and fees for the Combined Group.
- On 4 March 2024, the CREI Board announced the reaffirmation of its belief in the compelling strategic and financial rationale of the Recommended Merger.
- The CREI Board urges CREI Shareholders and API Shareholders to review the detail set out in that announcement in their consideration of the Recommended Merger, which can be found here https://custodianreit.com/proposed-all-share-merger-with-abrdn-property-... .
- in respect of the NAV of the Combined Group which is less than or equal to £500 million (rather than a fee of 0.90 per cent.