Investa Office Management (‘Investa’) notes the decision today by Investa Office Fund (IOF) unit holders to not acquire joint ownership of the Investa office management platform (the ‘Management Platform’).
Investa Group Chief Executive Officer, Jonathan Callaghan, said that Investa had initially committed to offering 50 per cent of the Management Platform to IOF unitholders in 2011, and re-affirmed that commitment in March 2016.
“Investa offered the opportunity for joint ownership once the agreed conditions precedent were reached and we are pleased that IOF unit holders have finally had the opportunity to decide for themselves if they wished to acquire 50 per cent of the Management Platform.” Mr Callaghan said.
Mr Callaghan said that Investa respected the views of the majority of the voting IOF unit holders, and assured all unitholders that Investa would continue to manage IOF with the same commitment and dedication it has applied since acquiring management in 2011.
“Investa is proud of the performance of IOF under its management where it has consistently outperformed the ASX A-REIT 200 Index and its peers.
Management has intimate knowledge of IOF’s assets and strong leasing and asset management capabilities and we will optimise IOF’s performance through the strong and enhanced governance that exists across the Group,” said Mr Callaghan
“We will continue to strive to deliver robust performance to IOF with our low-fee structure and stable management platform and will continue to look at ways to further strengthen the alignment with IOF.
IOF will continue to operate with a majority independent IOF board and with an independent chairperson, all of whom will be ratified by IOF unitholders,” said Mr Callaghan,
The Management Platform will continue to have a board consisting of majority independent directors including an independent chairman.