The manager of MacarthurCook Industrial REIT said its recapitalisation plan is the only proposal which meets the REIT's substantial and immediate funding requirements. It said this is reinforced by Cambridge Industrial Trust's (CIT's) disclosure on Friday that it has no viable proposal or solution for MI-REIT and its unitholders. CIT said on Friday that the Monetary Authority of Singapore would not allow...
Macarthurcook Industrial Reit (MI-Reit)
The tussle for unitholder support between MacarthurCook Industrial REIT (MI REIT) and Cambridge Industrial Trust (CIT) continues unabated. The latest salvo was fired on Wednesday morning by MI REIT, which questioned CIT's plans for it. MI REIT wants details of CIT's proposed initiative to take charge of MI REIT's assets, as well as the costs involved in such a move. It is also asking how CIT plans to...
MacarthurCook Industrial REIT (MI REIT) has rebutted Cambridge Industrial Trust's (CIT's) assertions that its recapitalisation plan is "massively value destructive". MI REIT said on Tuesday that unitholders should not allow themselves to be distracted by analyses that are inaccurate, incomplete and misleading. It said there are a number of mistakes in CIT's analysis. These include: CIT's claim that new...