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Global Logistic Properties Limited
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(Incorporated in the Republic of Singapore)
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Company Registration No. 200715832Z
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UPDATE ON STRATEGIC REVIEW
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Global Logistic Properties Limited (the "Company”) refers to its previous announcements1 (the "Previous Announcements") in relation to the independent strategic review of options available for its business (the "Strategic Review”).
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Further to the Previous Announcements, the Company would like to update that it has on 30 June 2017 received firm proposals from shortlisted bidders for final evaluation. All of the proposals received are non-binding and are subject to regulatory approvals and other conditions. Such proposals do not constitute an intention on the part of any shortlisted bidder to make an offer for the purposes of Rule 3 of the Singapore Code on Take-overs and Mergers.
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The Special Committee is now conducting an in-depth and independent review of all terms of the proposals in consultation with the Company’s external advisers. The Company will continue to provide timely updates, including making an appropriate announcement once the evaluation is completed, or in the event of any material developments.
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The Company wishes to reiterate that there remains no certainty that any definitive transaction will materialize from, or that any offer will be made as a result of, any proposals received or the Strategic Review, and there also remains no certainty as to the terms of a transaction (if any).
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All shareholders are reminded to refrain from taking any action in respect of their shares or other securities in the Company which may be prejudicial to their interests, and to exercise caution when dealing in such shares or other securities. If shareholders are in any doubt as to the action they should take, they are advised to contact their stockbroker, solicitor, accountant, tax adviser or other professional advisers immediately.
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By Order of the Board of
GLOBAL LOGISTIC PROPERTIES LIMITED
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3 July 2017
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The directors of the Company (including any who may have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this Announcement are fair and accurate and that no material facts have been omitted from this Announcement, and they jointly and severally accept responsibility accordingly.
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1 The announcements released by the Company on 1 December 2016, 5 January 2017, 3 February 2017, 27 February 2017, 8 March 2017, 30 March 2017, 27 April 2017, 25 May 2017, 8 June 2017 and 23 June 2017.
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