This article is a follow-up to my previous short write-up about Cromwell European REIT here. Cromwell European REIT’s proposed rights issues has been approved by ways of the EGM on 15 November 2018 (link to announcement here). (I’m kind of late to the game for this write-up).
38-for-100 rights issue at 0.373 EUR per unit.
Acquisition is Yield-accreditive (expecting about +20% to distributable income), but not DPU-accreditive (expecting about -12% DPU).
Here is the indicative time-table for the rights issue:
Last day of “cum-rights” trading for the Rights Issue 20 November 2018 First day of “ex-rights” trading for the Rights Issue 21 November 2018 Rights Issue Books Closure Date 23 November 2018 at 5.00 p.m. Despatch of the Offer Information Statement (together with the Entitlement Letter) to Eligible Unitholders 28 November 2018 Commencement