us office trust - mgt takeover ?

  1. 2,961 Posts.
    Should'nt they suspend trading in the units...

    Interesting to see what happends to values - down from $1.45 to inital ipo price of $1.25.


    Lend Lease USOT Management Limited, the responsible entity of the Lend Lease US
    Office Trust (LLUSOT), has today received a notice from Colonial First State Investments
    Limited (CSFI) requisitioning a meeting of Unitholders of the Trust. This requisition has
    been lodged without prior notice or communication. A copy of the notice is appended to
    this release.

    The notice requests that the meeting consider resolutions to remove Lend Lease USOT
    Management Limited as responsible entity of the Trust and appoint Principal Real Estate
    Investors (Australia) Limited as the responsible entity of the Trust.

    The meeting requisition has been lodged as Lend Lease is in the final stages of concluding
    a well-publicised agreement for the sale of Lend Lease US Office Trust's management in
    Australia and the US to Morgan Stanley.

    Under the agreement with Morgan Stanley, the key Lend Lease US Office Trust
    management team, which has managed the Trust's interests in both Australia and the US
    since inception in 1999, will transfer to Morgan Stanley and continue their current roles
    for the Trust. Lend Lease USOT Management Limited ABN 60 008 971 659 Level 14 Tower Building Australia Square Sydney NSW 2000 Australia Telephone 02 9236 6999 Facsimile 02 9236 6020 U S O F F I C E T R U S T
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