Goodman New Zealand & Goodman Property Services Completes Transition to Stapled Security Structure

MT Newswires Live04-07

Goodman New Zealand & Goodman Property Services (NZE:GNZ) has finalized the transition of Goodman Property Trust to a corporatized and stapled structure, with new stapled securities set to begin trading on the New Zealand Exchange under the ticker code "GNZ" starting Tuesday, according to a same-day New Zealand bourse filing.

The transaction was contingent on several conditions, including approval by unitholders through an extraordinary resolution and by GNZ Bond Issuer bondholders through special resolutions, all of which were passed on March 31, the filing said.

The company now consists of Goodman New Zealand and Goodman Property Services (NZ), whose shares have been stapled one-for-one to create "stapled securities," aligning investor interests across both entities, the filing added.

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