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About 99% of ESR-REIT shareholders approve ARA LOGOS merger

More than 1.2 billion voting shares decided the fate of the two companies.

An overwhelming majority of ESR-REIT shareholders voted in approval for the merger with ARA Logos Logistics Trust (ALOG). 

Of the 1.22 billion units, represented as votes, represented during the extraordinary general meeting held on 21 March 2022, 1.2 billion (98.57%) voted for the merger whilst 17 million (1.43%) voted against it. 

Approximately 98.44% of votes were also cast in favour of a proposal to issue new units to the ALOG unitholders at an issue price of $0.59 each. 

As both of the above resolutions garnered a vote of above 50%, they were duly passed during the meeting. 

Read more:

ESR-REIT and ARA LOGOS unitholders to discuss proposed merger

ESR-REIT chief exec to serve as CEO of ESR-LOGOS REIT manager

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