Custodian Property Income REIT plc cancelled the acquisition of abrdn Property Income Trust Limited (LSE : API) from Jill May, Michael Balfour, James Clifton-Brown, Sarah Slater and others.
Nathan Brown, Stuart Ord, Alexander Kladov and George Shiel of Numis Securities Limited acted as financial advisor to Custodian Property Income REIT. Patrick Long and Jolyon Coates of Lazard & Co., Limited acted as Financial advisor and Fairness opinion provider to abrdn Property Income Trust Limited. Stephenson Harwood LLP is acting as English legal adviser to CREI in connection and Addleshaw Goddard LLP is acting as English legal adviser to API. Northern Trust International Fund Administration acted as transfer agent. Link Group Limited acted as transfer agent , RSM UK Corporate Finance and Deloitte UK acted as Accountant to CREI.
Custodian Property Income REIT plc cancelled the acquisition of abrdn Property Income Trust Limited (LSE : API) from Jill May, Michael Balfour, James Clifton-Brown, Sarah Slater and others on March 27, 2024. The proportions of API Shares voting in favour were below the minimum being 75% threshold needed to approve the resolutions. As such the CREI Merger has been terminated, the scheme of arrangement implementing the CREI Merger has lapsed and API is no longer in an offer period as defined by the City Code on Takeovers and Mergers. The total votes in favour of the resolutions to implement the CREI Merger were 60.79% of API Shares voted at the Court Meeting and 61.37% of API Shares voted at the General Meeting, and 86.15% by number of API Shareholders who voted at the Court Meeting. The API Board will now take steps to implement a Managed Wind-Down subject to the approval of API Shareholders at a general meeting.