BWP Trust's takeover bid extension

BWP Trust (ASX: $BWP) has extended the offer period for its off-market takeover bid for Newmark Property REIT (ASX: $NPR) until 7.00pm (Sydney time) on 17 May 2024. As of 24 April 2024, BWP owns 90.71% of NPR Securities on issue and intends to proceed to acquire the remaining NPR Securities under the compulsory acquisition provisions of the Corporations Act in the near future.

Executive Commentary

We have extended the offer period to allow NPR Securityholders to receive their Offer Consideration within 5 Business Days of acceptance of the Offer. Once BWP proceeds to compulsory acquisition, trading of NPR will be suspended, and NPR will be delisted from ASX. We urge NPR Securityholders to accept the Offer prior to the Closing Date of 17 May 2024 to expedite the process of receiving the Offer Consideration.

Summary of Takeover Bid Extension

BWP Trust (ASX: $BWP) has extended the offer period for its takeover bid for Newmark Property REIT (ASX: $NPR) until 17 May 2024. With BWP owning over 90% of NPR Securities, it intends to proceed to compulsory acquisition, leading to the suspension and delisting of NPR from ASX. NPR Securityholders are encouraged to accept the Offer before the Closing Date to expedite the receipt of Offer Consideration.