The Panel has accepted an undertaking from Australian Unity Investment Real Estate Limited (AUIREL), as responsible entity of Australian Unity Office Fund (AOF), in relation to the application dated 13 November 2019 by ASIC (see TP19/65).
AUIREL, as responsible entity of AOF, has in effect undertaken not to cause the trust scheme to become effective until 3 business days after the Panel’s determination of ASIC’s application.
The Panel considers that the undertaking sufficiently preserves the status quo in relation to the application and accordingly declined to make the interim order sought by ASIC to adjourn the scheme meeting.
A copy of the undertaking is attached.
The Panel is otherwise still considering the matter.
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3500
Australian Securities and
Investments Commission Act 2001 (Cth) Section 201A
Australian Unity Office Fund
Australian Unity Investment Real Estate Limited (AUIREL), as responsible entity of Australian Unity Office Fund (AOF), undertakes to the Panel that, in the event that the Scheme Resolutions are approved by the requisite majorities of AOF unitholders, AUIREL will not take steps for an application to be heard by the Court to obtain the Second Judicial Advice or otherwise cause the Scheme to become Effective until a time no earlier than 3 Business Days after the Panel’s determination of the application dated 13 November 2019 by ASIC.
Capitalised terms used but not defined in this undertaking have the meaning given to them in the Implementation Agreement dated 2 September 2019 between AUIREL, as responsible entity of AOF, and CHAB Office Pty Limited as trustee for the CHAB Office Trust (as announced by AOF to ASX on 2 September 2019).
Signed by W Peter Day, Independent Non-Executive Chairman
with the authority, and on behalf, of
AUIREL, as responsible entity of AOF
Dated 15 November 2019