News and Announcements
Unity Pacific – Sentinel Makes Conditional Offer to Fund Buyback
- Published December 16, 2015 11:35AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
15th December 2015, ASX Announcement
Unity Pacific Limited (ASX: UPG) makes the following announcement in response to an offer made by Sentinel Property Group (Sentinel), a privately-owned and Brisbane-based property group.
Sentinel has today announced an offer to fund a buyback of all the stapled securities in Unity Pacific Group (the Sentinel Offer).
The Sentinel Offer is subject to the completion of previously announced of Unity Pacific Group’s investment property located at 308 Queen Street / 88 Creek Street, Brisbane and the return of the net sale proceeds to securityholders. Securityholders approved the sale of the property at the annual general meeting held on 19 November 2015. The sale process is expected to commence in early 2016 and if successful, is anticipated to be completed in mid-2016.
To read the full announcement, please click here.
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