St John Balanced Property Fund Limited
Transaction Type: Takeover (Full)
Offeror: Rockport Holdings Limited Partnership
Independent Adviser(s): ordaMentha (Rule 21)
Offer commencement date: 26/09/2013
Offer closing date: 22/11/2013
On 12 September 2013, Rockport Holdings Limited Partnership (Rockport) announced that it would make a full takeover offer to acquire all of the issued ordinary shares in St John Balanced Property Fund Limited (St John) that it did not already hold.
Key terms:
- The consideration offered for each share was $2.50 in cash.
- The offer was conditional on Rockport receiving acceptances which, when taken together with the voting securities already held or controlled by Rockport, would confer more than 90% of the voting rights in St John.
On 29 October 2013, Rockport announced that it had received acceptances of more than 90% of the voting rights in St John. Accordingly, Rockport sent its compulsory acquisition notice to the outstanding shareholders in St John requiring them to sell their shares in St John to Rockport.
