URF 1.52% 33.5¢ us masters residential property fund

Ann: URF executes Purchase and Sale agreement, page-57

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    Well, @FFailings hasn't actually replied to my query, but she has upvoted *this* post, so I'll assume her thoughts align with those expressed in it.

    The voting entitlement for the CPUs is one that applies to meetings of members.

    Listing Rule 11.1.2 doesn't require approval via a meeting of members. It requires the approval of ordinary holders. That wording is quite deliberate, and it means that the "meeting" being held to secure that approval is not a "meeting of members", and thus the CPUs don't get a vote.

    Listing Rules 6.3.4 and 6.3.5 apply to a wind-up and a complete sale / takeover respectively. Approval is not being sought for either of those things. It is being sought for the sale of a lot of URF, but not all of it. Ergo, LRs 6.3.4 and 6.3.5 do not apply, and there is no inconsistency with LR 11.1.2.

    In short summary: as the announcement indicates, holders of URF get to vote; holders of URFPA do not.
 
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