This article is from the Australian Property Journal archive
THE Supreme Court of New South Wales has ruled that an entity owned by Morgan Stanley is entitled to exercise its rights to vote.
The Court declared that Investa Listed Funds Management Limited (ILFML) and Post Sale Portfolio Issuer Pty Limited (PSP), owned by Morgan Stanley, are not associates for the purposes of section 253E of the Corporations Act, which provides
PSP is the holder of approximately 8.9% of the units in IOF.
As a result of the declarations, the Court ruled that PSP is not precluded from voting on any resolution put to Investa Office Fund unitholders in relation to Dexus’ $2.5 billion takeover proposal.
Australian Property Journal
