Receives Higher Revised Offer
- ARA LOGOS Logistics Trust (ALLT) and ESR REIT have entered into a supplemental letter to amend and restate the Implementation Agreement. ALLT unitholders will receive a Revised Scheme Consideration comprising:
- S$0.097 in cash per ALLLT unit (an increase of 2.1% from previous S$0.095)
- Allotment and issue of 1.7729 new ESR REIT units (an increase of 5.8% from previous 1.6765 new ESR REIT units) for each ALLT unit issued at S$0.4924
- For every 1,000 ALLT units held by the Books Closure Date, an ALLT unitholder will receive S$97.00 in cash and 1,772 new ESR REIT units.
- The Revised Scheme Consideration represents an improvement of 5.3% as compared to the original Scheme Consideration based on the 1-month VWAP of ESR-REIT Units prior to the announcement of the Merger on 15 Oct 21. In addition, the historical pro forma DPU accretion increases from 8.2% to 12.8% and the historical pro forma NAV per unit accretion increases from 2.2% to 5.3%.
- The EGM and Scheme Meeting at 3.00pm and 3.30pm respectively on 27 Jan 22 will be postponed to a future date to be determined and will be announced in due course.