Zim Now Writer
The Tigere Real Estate Investment Trust has announced that it is engaged in negotiations with related parties to acquire two income-generating properties for possible inclusion in its portfolio.
In a cautionary statement issued yesterday, the REIT said the addition of the assets is expected to deliver a “significant yield accretive impact,” while also enhancing counterparty lease diversification and driving net asset value growth.
Related Stories
“If negotiations are successful, the Zimbabwe Stock Exchange Listing Rules will require the Trust to seek approval for the acquisition of the Assets, from its unitholders in an Extraordinary General Meeting (EGM),” the statement read.
The REIT assured its unitholders that more information on the proposed transaction will be shared through a circular in accordance with Part XI of the ZSE Listing Rules, should the ongoing discussions be concluded successfully.
Terrace Africa Asset Management, which manages the Tigere REIT, urged unitholders and the investing public to exercise caution when trading the units on the ZSE until further announcements are made.
Leave Comments