- Vying for Vitalharvest, the bidding war now at $1.16, Macquarie today equalled Roc
- Mining dominated the top five performers
- CIP saw new acquisitions, and HomeCo doubled its raising efforts for HealthCo
It’s that time of the week again for an ASX listed real estate wrap.
We did miss out on last week’s end of week wrap, so today we include a few of the top movements from the second half of last week as well.
The broader market
But first, top movers as at yesterday’s close saw mining take out almost all the top five spots, the exception being number two, Polynovo Limited (PNV), a biomaterials company that saw at the close of trading, up 7.12%.
So far today, the top performers for real estate companies are:
Top-performing ASX listed real estate companies
|Axiom Properties Limited||AXI||0.072||20.00|
|Tian An Australia Limited||TIA||0.365||17.74|
|Proptech Group Limited||PTG||0.69||7.81|
|Auckland Real Estate Trust||AKL||0.85||6.25|
|Centuria Capital Group||CNI||2.77||4.92|
The movement, second half last week
Scentre Group (ASX: SCG) saw unhappy investors inflict the first strike on the company in an announcement on 8 April, with 51.03% voting against the remuneration report.
The Corporations Act has the two strike rule for remunerations reports, the first occurs after more than 25% vote against a remuneration report, the second strike is when the subsequent report also is voted against by 25% or more.
This triggers the requirement for, at the same annual general meeting, security holders to determine whether directors should stand for re-election. If a simple majority (50% or more) is in favour, then a ‘spill meeting’ will be called within 90 days.
Chairman Brian Schwartz said he had already anticipated the outcome, and “while the poll on the remuneration report… has not yet been taken, based on proxy votes already received, we expect a substantial vote against it.”
Vitalharvest (ASX: VTH) saw the bidding battle for the berry and citrus farm company reach new heights, the offer now at $1.16 per unit, as proposed by Roc Private Equity.
Waypoint REIT Limited (ASX: WPR) notified shareholders of the upcoming annual general meeting on Thursday, 13 May 2021, and dividends were paid out for Rural Funds Group (ASX: RFF, $0.0282 per security), Cedar Woods Properties (ASX: CWP, $0.13 per security), and Eureka Group Holdings (ASX: EGH, $0.0059 per security).
The movement, this week
12 April saw Centuria Industrial REIT (ASX: CIP) acquire a distribution centre in Central Western Sydney for $27 million. The Arndell Park property is located at 20 Penelope Crescent, including 9,400 square metres of industrial space within a 1.9-hectare site (49% site coverage).
Vying for Vitalharvest (ASX: VTH) are Roc Private Equity and Macquarie Agricultural Funds Management (MAFM). Last week saw Roc Private Equity up the bid again to $1.16, and on Monday this week, VTH announced the unitholder meeting originally scheduled for 16 April 2021 will be deferred to a new date, yet to be determined. Today VTH announced to the market MAFM had equalled the Roc bid.
Yesterday, a player in the convenience-based retail and regional shopping sector, HomeCo (ASX: HMC) doubled the equity raising efforts for a new venture: HealthCo, the company’s foray into the healthcare, hospitals, early education, and aged care sectors.
Axiom (ASX: AXI), and Acumentis (ASX: ACU) both released their quarterly reports, both seeing positive figures or strong indicators across the board, both also expecting strong finishes to the financial year.
Cedar Woods (ASX: CWP) announced the appointment of Brendan Gorringe as National Acquisitions Manager, and APN Industria REIT (ASX: APN) announced dividends of $0.0435 per security.