Ann: URF executes Purchase and Sale agreement, page-54

While not trying to speak for @FFailings I believe we're confused about the same inconsistencies:

1. The announcement of the acquisition/wind-up included information that "The Transaction is subject to and conditional upon...[some other things]...The approval of URF ordinary unit holders by ordinary resolution".
2. However the CPU prospectus in section 11.12 states that "CPUs carry the right for CPU Holders to receive notice of, attend and vote at general meetings of Unit holders or URF Note holders", which seems to indicate that preference unit holders must be allowed to vote on the resolution.
3. In addition FFailings also presented LR 6.3 which states that "The holder of a preference share must be entitled to a right to vote in each of the following circumstances" and the circumstances is subsections 6.3.4 and 6.3.5 appear to be applicable in relation to the announcement, which would appear to have the effect of requiring the fund to allow CPU holders to vote on the proposed acquisition.

So we have an announcement that states that the decision to proceed with the proposal rests with ordinary unit holders, in apparent opposition to two legally enforceable documents that seem to give preference unit holders the right to vote on the question.

I believe it's an important question. If preference unit holders are to vote on the resolution it is extremely likely that it will be passed. If the vote is only from ordinary unit holders it might go the other way, although we haven't yet seen any details of the transaction or the reasons why it is the best that unit holders can reasonably expect.