Goodman Group intends to repurchase Goodman PLUS

Company News

by Roma Christian

Goodman Group (ASX:GMG) says it intends to repurchase all Goodman PLUS ASX quoted hybrid securities by 2 October 2017.

The company says it will issue an Issue Realisation Notice on or before 21 July 2017. The last trading day of Goodman PLUS on the ASX will be 21 September 2017.

The integrated property group says holders of Goodman PLUS will receive a Realisation Amount of $100, on transfer of each Goodman PLUS to a Goodman entity.

Goodman Group says the repurchase amount of about $327 million will be funded from existing cash deposits, which are in excess of $2 billion.

Shares in Goodman Group (ASX:GMG) closed 2.04 per cent lower to $7.67.