Source: Pexels
  • Shareholders voted 93.38% for removal from the ASX this morning.
  • This follows Monday's extension of offer period for off-market takeover.
  • RNY Property Trust is a Sydney based company investing in the New York Tri-State area.

Sydney based real estate firm RNY has been removed from the official ASX list.

The move follows this morning’s general meeting as announced by Huntley Management Limited to the ASX.

Only one resolution was presented to the meeting, with 93.38% voting in favour of the delisting, 6.60% against, and 0.02% abstaining.

Source: Pexels

This follows an extended period of trading at less than one cent per share, with Huntley planning back in September last year to conduct a non-renounceable entitlement offer to raise to $2.89 million.

Since then, investment firm Keybridge Capital mounted a takeover bid, last Monday announcing to the ASX that it had extended the offer period for the takeover to 18 February 2021.

RNY suspended trading as of April 2019, Aurora Funds Management stating it was:

“…due to delays experienced in finalising its audited financial statements for the year ended 31 December 2018 and half year ended 30 June 2019, followed by the Audit Disclaimer Opinion issued in relation to the year ended 31 December 2019.”

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