FINWIRES · TerminalLIVE
FINWIRES

Update: Australian Unity Office Fund Completes Sale of Brisbane Asset; Expects Delisting on June 9

By

(Updates to add stock movement in the last paragraph)

Australian Unity Office Fund (ASX:AOF) said it sold its 150 Charlotte Street, Brisbane, asset at a gross sale price of AU$40 million on May 29, according to an Australian bourse filing on May 29 after hours.

The company's responsible entity, Australian Unity Investment Real Estate (AUIREL), plans to apply for Australian Unity Office Fund's units to be suspended from trading at the close of trading on Wednesday, and expects the company to be delisted from the Australian Securities Exchange on June 9.

AUIREL expects to return aggregate proceeds to the company's shareholders of between AU$0.37 and AU$0.38 per unit as soon as practicable after the delisting. As part of the compulsory redemption, AUIREL will redeem 19 Australian Unity Office Fund units for every 20 units held by a unit holder on the June 10 record date, with payment expected before the end of June.

Meanwhile, under a winding up process for the real estate investment trust, AUIREL expects to make a final return of proceeds to Australian Unity Office Fund unit holders in the second half of the year, reflecting the company's residual cash after allowing for all liabilities and funding the wind-up costs.

The company's shares fell around 1% in recent Monday trade.

Related Articles

Asia

Update: Cettire to Expand China Footprint With Planned Launch on TMall Global; Shares Up 15%

(Updates to add stock movement in the headline and last paragraph)Cettire (ASX:CTT) said it will broaden its global footprint through the launch of a flagship store on TMall Global, Alibaba Group's cross-border e-commerce platform, marking its entry into mainland China, according to an Australian bourse filing on May 29 after market hours.The move complements the company's existing presence on JD.com and its direct-to-consumer platform cettire.cn, launched in June 2024, per the filing.The company will continue using its proprietary technology and global supply chain for fulfillment without maintaining local inventory, with the TMall Global launch contingent on completing technology integration expected in the first quarter of fiscal 2027, the filing added.The company's shares jumped around 15% in recent Monday trade.

$ASX:CTT
Asia

Update: Rio Tinto Group Begins Commissioning Nearly $2 Billion AP60 Smelter Expansion in Canada

(Updates to add stock movement in the last paragraph)Rio Tinto Group (ASX:RIO) started commissioning its $1.5 billion AP60 aluminum smelter expansion at Complexe Arvida in Quebec, with start-up work having commenced in March and full 96-pot operations targeted for completion by the end of year, the company said on May 29 after hours.The project will increase AP60's annual aluminum capacity by about 160,000 tonnes to around 220,000 tonnes while replacing output from older Arvida potrooms scheduled for closure in June.The expansion is expected to support about 100 permanent jobs, generate over 1,500 construction jobs, and contribute more than $1 billion in economic benefits to Quebec.The company's shares rose past 1% in recent Monday trade.

$ASX:RIO
Asia

Syrah Resources Resolves Offtake Agreement Issues With Tesla; Shares Jump 26%

Syrah Resources (ASX:SYR) said Tesla no longer plans to terminate an offtake agreement with the company after Syrah showed that it is producing conforming active anode material samples, according to a Monday filing with the Australian bourse.Tesla previously claimed that Syrah defaulted on an obligation under the agreement to provide conforming natural graphite active anode material samples from a facility in Louisiana, US.Syrah said it has now "made sufficient progress to cure the alleged default" and is progressing through later stages of qualification testing approvals with Tesla.Shares of Syrah Resources jumped more than 26% in recent Monday trade.

$ASX:SYR