Overview of BWP Trust's takeover offer for NPR

BWP Trust (ASX: $BWP) has extended its off-market takeover offer for all stapled securities in Newmark Property REIT (ASX: $NPR) to 17 May 2024. As of 24 April 2024, BWP owns 161,297,085 NPR Securities, representing 90.71% of NPR Securities on issue. BWP intends to proceed with the compulsory acquisition of the remaining NPR Securities under the Corporations Act in the near future, leading to the suspension and delisting of NPR from ASX.

Executive commentary on BWP's takeover offer and compulsory acquisition

BWP's takeover offer for NPR Securities has been extended to ensure NPR Securityholders have sufficient time to consider and act upon the offer. We urge NPR Securityholders to carefully evaluate their options and consider accepting the offer before the closing date. Once BWP proceeds with the compulsory acquisition, trading of NPR will be suspended, and NPR Securityholders will have to wait for a considerable period to receive the offer consideration. We are committed to providing NPR Securityholders with the necessary information and support throughout this process.

Summary of BWP Trust's takeover offer and outlook

BWP Trust (ASX: $BWP) has extended its off-market takeover offer for Newmark Property REIT (ASX: $NPR) Securities, with the closing date set for 17 May 2024. Having acquired over 90% of NPR Securities, BWP intends to proceed with the compulsory acquisition, leading to the suspension and delisting of NPR from ASX. NPR Securityholders are encouraged to carefully consider the offer and take necessary action before the closing date to receive the offer consideration within 5 Business Days of acceptance. Those who do not accept the offer may face a prolonged wait to obtain the offer consideration once the compulsory acquisition process is initiated. NPR Securityholders are advised to seek further information and support through the NPR Securityholder Information Line.