News

Unitholders scuttle merger

Thursday 25th of March 1999
Unitholders in the Newmarket Property Trust torpedoed a plan to merge with the National Property Trust at a special meeting in Auckland on Thursday.
The proposal required the support of 75 per cent of unitholders, however only 56 per cent of them voted in favour of it.
The idea behind the merger was to create a $145 million fund which was a more economic size and had a better geographic sp...
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