This article is from the Australian Property Journal archive
THE MacarthurCook Fund Management said the MacarthurCook Property Securities Fund has voted against the two proposed resolutions set out by MAB Funds Management, acting for the MAB Diversified Property Trust.
As a result of the defeat, which was broadly seeking a three year extension to the closed-ended MDPT, the trust will proceed with an orderly wind-up over the next 12-18 months.
The fund is expected to receive a return of capital from its investment in the region of $0.83 cents per unit (7,100,000 units) for a total consideration of $5,893,000.
The return of capital will be applied to reduce the fund’s outstanding debt.
Australian Property Journal