You’re right, friendlydwarves: this is a dud deal for unit-holders. If the latest proposals are passed and the merger proceeds, cash distributions will be a thing of the past (to be replaced by a DRP scheme); moreover, the units will no longer be listed or tradeable, and unit-holders will be able to redeem only 5% (max) of their holdings every six months. Hence it will take 10 years (more, in fact) to fully redeem the value of a holding. So much for improvements in flexibility and liquidity! No wonder the units slumped by >15% on the ASX today……
Use your votes to kill off this proposal. The current arrangement has its drawbacks, for sure, but it’s far preferable to the proposed alternative.
CD3 Price at posting:
$1.42 Sentiment: Hold Disclosure: Held
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