Unitholders of CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) on Tues voted “resoundingly” in favour of the proposed merger of CMT and CCT to form a new Reit, though CCT unitholders had lower percentage approvals than CMT unitholders. In a joint statement, the managers said more than 3,000 unitholders voted by proxy at CMT’s EGM and CCT’s EGM and trust scheme meeting held via electronic means. All five resolutions at the three meetings were duly passed and well supported. At CMT’s EGM, about 98.89 per cent of the total number of votes were in favour of the proposed merger by way of the trust scheme, while about 98.88 per cent of total votes were in favour of the issuance of new CMT units as part of the scheme consideration for the merger. At CCT’s trust scheme meeting, the resolution on the merger by way of the trust scheme received about 90.31 per cent approval by headcount, representing about 98.23 per cent in value of the total number of CCT units held by unitholders who voted.... Continue Reading