THE Singapore Exchange on Friday granted in-principle approval to CapitaLand Mall Trust for the listing of up to 2.78 billion new units as part consideration for its merger by way of a trust scheme with CapitaLand Commercial Trust , CMT's manager said in a bourse filing on Monday.
SGX on Friday also advised that it has no objection to the proposed delisting of CCT, subject to the trust scheme becoming effective, CCT's manager said on Monday. SGX's in-principle approval for the listing of the new CMT units is subject to compliance with listing requirements for the units, court approval of the implementation of the trust scheme, and the approval of CMT's independent unitholders for all the resolutions necessary to effect the merger.
CMT's manager said further details on the merger, the trust scheme and the related transactions will be set out in a circular to unitholders to be issued in due course, together with a notice to convene an extraordinary general meeting. Units of CMT ended Friday at S$1.90, up S$0.04 or 2.2 per cent. Units of CCT finished at S$1.64, up S$0.04 or 2.5 per cent.
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