UPDATE ON PROPOSED INTERNALISATION
The Independent Directors of NZX-listed industrial property landlord,
Property for Industry Limited (NZX: PFI, the Company), are pleased to
announce that they have received a binding ruling from the IRD confirming
that the proportion of the payment to PFIM relating to the proposed
termination of the PFI management contract is deductible for income tax
purposes.
The internalisation agreement remains conditional on approval by PFI
shareholders, who will have the opportunity to vote at the Company''s annual
meeting, to be held on Thursday, 22 June 2017 at the Level 4 Lounge, South
Stand, Eden Park, Gate P5, Reimers Ave, Mount Eden, Auckland 1024. A notice
of meeting, which will include Northington Partners independent appraisal
report on the merits of the internalisation, is expected to be sent to PFI
shareholders in early June 2017.
ENDS
ABOUT PFI & CONTACT
PFI is New Zealand''s only listed company specialising in industrial property.
PFI''s portfolio of 84 properties located in Auckland, Hamilton, Mount
Maunganui, Wellington and Christchurch, is leased to 145 tenants.
For further information please contact:
ANTHONY BEVERLY
Deputy Chairman & Independent Director
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Phone: +64 29 494 2266
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Property for Industry Limited
Shed 24, Prince''s Wharf, 147 Quay Street, Auckland 1010
PO Box 1147, Shortland Street, Auckland 1140
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www.propertyforindustry.co.nz
End CA:00301532 For:PFI Type:TRANSACT Time:2017-05-23 09:05:36