Minority unitholders have received their scheme consideration payments on Jun 4, 2025
[SINGAPORE] Paragon Reit will delist from the Singapore Exchange with effect from 9 am on Jun 6, 2025, the manager said on Wednesday (Jun 4).
This comes as Times Properties – the offeror that proposed privatising the Reit for S$0.98 apiece in February – confirmed that minority unitholders received their payment for the scheme consideration on Wednesday, the manager added.
The offer price represented a 10.1 per cent premium to the counter’s last transacted price on Feb 10, the day before the offer was announced, at S$0.89.
Unitholders of Paragon Reit approved the scheme resolution during an April scheme meeting, where 1,000 unitholders or around 82.8 per cent of those present and voting agreed to the privatisation offer.
This represented around 97.6 per cent of units, surpassing the 50 per cent required of total voting minority shareholders as well as the 75 per cent required in value of units.
Trading of Paragon Reit’s units was subsequently suspended on May 15, 2025, at 9 am, after closing flat at S$0.975 on the last trading day on May 14, 2025.
Paragon Reit was formerly known as Singapore Press Holdings Reit before it was renamed in January 2023. The retail Reit counts Orchard Road shopping mall Paragon as its crown jewel.
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