Australian Industrial REIT
(ASX:ANI) has submitted an application to the Australian Government Takeovers Panel, regarding an off-market takeover bid by 360 Capital Industrial Fund.
Fife Capital Funds Limited, as the responsible entity for the company, submitted the application regarding what is has declared as a misleading notice distributed to ANI shareholders.
The statement was released by 360 Capital Investment Management Limited as the responsible entity for 360 Capital Industrial Fund, and included comments that ANI’s June distribution was partially funded by debt reflecting cashflow issues. The notice was not released to the ASX.
Fife Capital Funds is seeking that 360 Capital Industrial Fund corrects the notice and that shareholders who have accepted the offer since the notice was distributed have the right to withdraw.
Australian Industrial REIT reported a net profit of $36.3 million in the 12 months to 30 June 2015.
