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- Release Date: 01/07/13 11:02
- Summary: MERGER: PFI: Merger with Direct Property Fund Effective
- Price Sensitive: No
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PFI
01/07/2013 09:02
MERGER
REL: 0902 HRS Property for Industry Limited
MERGER: PFI: Merger with Direct Property Fund Effective
MERGER WITH DIRECT PROPERTY FUND EFFECTIVE
The merger of Property for Industry Limited (PFI) with Direct Property Fund
Limited (DPF) became effective today, following the receipt of shareholder
and High Court approvals last week.
Former DPF shareholders have today been issued 191,091,663 shares, increasing
total PFI shares on issue to 411,502,391. Please refer to the attached merger
allotment notice for further details.
In addition to this, former DPF directors Arthur Young and John Waller have
joined the PFI board, and former DPF General Manager Simon Woodhams has been
appointed General Manager (Joint) alongside Nicolas Cobham.
The board of PFI has determined pursuant to Listing Rule 3.3.3a that John
Waller is, in its view, an Independent Director of PFI. Arthur Young is not
an Independent Director because he holds more than 5% of PFI's shares as a
result of acting as a professional trustee for a number of client trusts
which are now, following the merger, shareholders of PFI.
Finally, PFI advises that it will release its interim results for the six
months ended 30 June 2013 to the NZX on 5 August 2013.
Contact
For further information please contact:
Greg Reidy
Managing Director
Phone: +64 9 303 9653
Email: [email protected]
About PFI
PFI is New Zealand's only listed company specialising in industrial property.
PFI's portfolio of 83 industrial properties in Auckland, Hamilton, Tauranga,
Wellington and Christchurch, is leased to 137 tenants. www.pfi.co.nz
Attached
2013 07 01 - PFI - Merger Allotment Notice
End CA:00238010 For:PFI Type:MERGER Time:2013-07-01 09:02:57
