Fri, 21/02/2014 - 16:01
FAM Real Estate Investment Trust (FAM REIT) has appointed a special committee comprised of its independent trustees and chaired by Gary Samuel, FAM REIT's lead independent trustee.
The committee's mandate is to evaluate the impact on FAM REIT of the strategic review commenced by Huntingdon and, if advisable, to respond to such review.
While Huntingdon undertakes its strategic review, FAM REIT expects to continue to carry on normal operations with Huntingdon acting as its manager.
Huntingdon has assured FAM REIT of its continued sponsorship of FAM REIT and commitment to the management of FAM REIT during its review.
FAM REIT understands that Huntingdon has an approximate 29 per cent equity interest in FAM REIT through the ownership of FAM REIT units and exchangeable Class B LP units of a FAM REIT subsidiary.
Huntingdon is also the manager of FAM REIT and has granted to FAM REIT a right of first offer on Huntingdon's industrial, office and retail properties pursuant to a right of first offer agreement dated 28 December 2012.
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