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