Australian Industrial REIT
(ASX:ANI) says that the Australian Government Takeovers Panel has declined to take any action over an off-market takeover bid by 360 Capital Industrial Fund.
Fife Capital Funds Limited, as the responsible entity for the company, had submitted an application regarding what is had declared as a misleading notice distributed to ANI shareholders.
The statement regarded comments not released to the ASX that ANI’s June distribution was partially funded by debt reflecting cashflow issues.
The panel considered the statements were not misleading in the context of the long running bid and said there was no reason to make a declaration of unacceptable circumstances.
Australian Industrial REIT made a net profit of $36.29 million for the 2015 financial year.
