Scoop has an Ethical Paywall
Settlement of Internalisation
NZX RELEASE
13 December 2013
Settlement of Internalisation
Kiwi Income Property Trust is pleased to announce that the internalisation of the Trust’s management has settled. Accordingly, with effect from today, the Trust is managed by Kiwi Property Management Limited (formerly named Kiwi Property Management (NZ) Limited), a newly established company controlled by Unit Holders. Existing staff have now commenced employment with the new manager.
The net internalisation payment of $70.5 million (plus GST where applicable) has been funded through the Trust’s committed bank debt facilities, which have been increased by $25 million to $875 million.
ENDS
Advertisement - scroll to continue reading
Worldline: Boxing Day Spending Up On Last Year, But Pre-Christmas Spending Is Slightly Down
Skoltech: Scientists Reinvent Physical Laws Governing Formation Of Snowflakes, Raindrops, And Saturn’s Rings
Trademe: Trash To Treasure - Kiwi Make The Most Of Unwanted Christmas Gifts 
Financial Markets Authority: FMA Seeks Clarity From High Court On Use Of Eligible Investor Certificates In Wholesale Investment Sector
Scion: Scion’s Novel Internship Model Connects Talent With Industry
Financial Markets Authority: Westpac Admits To Misleading Representations That Resulted In $6.35m In Overcharges
