This article is from the Australian Property Journal archive
THE Over Fifty Group has started a strategic review of its business and operations after receiving preliminary proposals from interested parties.
The company said it has formed a board sub-committee consisting of the independent directors to oversee this review. The board sub-committee has retained Macquarie Bank to advise on the strategic review.
The initiation of the strategic review follows a number of preliminary approaches and proposals from interested parties.
The company has suspended the operation of its Dividend Reinvestment Plan pending completion of the review.
The company said in a market statement that there is no assurance that this process will result in any specific transaction.
“The company does not intend to disclose further developments regarding the process until after the board subcommittee has completed its review.
“The company will continue with its business as usual during the review process,” Over Fifty Group said.
Australian Property Journal
