SoilBuild REIT Disposes Australian Assets
April 1, 2021- The SB Manager wishes to announce that, in conjunction with the Trust Scheme, and as contemplated in the Scheme Document, the Australian Asset Disposal has been completed today in accordance with the terms of the Australian Asset Disposal Agreement.
Accordingly, the Scheme Condition set out in Paragraph 2.8(a)(ii) (Completion of the Australian Asset Disposal) of the Letter to SB Unitholders in the Scheme Document has been satisfied.
The SB Manager wishes to announce that written notification of the grant of the Trust Scheme Court Order was provided to the MAS on 31 March 2021 in accordance with the terms of the Implementation Agreement. The Trust Scheme has therefore become effective and binding in accordance with its terms on 31 March 2021 (the “Effective Date”).
SB Unitholders will receive payment of the Adjusted Scheme Consideration (S$0.53806 in cash for each SB Unit held by each SB Unitholder as at the Record Date) not later than seven (7) Business Days after the Effective Date (i.e. by 12 April 2021). The expected date for the payment of the Adjusted Scheme Consideration is 12 April 2021. A further announcement will be made upon payment of the Adjusted Scheme Consideration.
The expected date for the payment of the Adjusted Scheme Consideration to unitholders is on April 12, 2021, and the expected date for the delisting of the SB units is on April 14, 2021.
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