MI-Reit to delay its acquisition deal

Macarthurcook Industrial Reit (MI-Reit), which plans to purchase four industrial buildings from AMP Capital Holdings, will move the date of its deal to 11 January 2010.

In filings to the Singapore Exchange, MI-Reit also gave an update on its rights issue, as well as announced new names and the changes of its board.

The Reit unveiled a debt-and-equity-raising plan in November involving the posting of new shares to AMP and AIMS Financial Group, as well as to other cornerstone investors, followed by a new term loan and rights issue.

Following its changes, REIT’s name was changed to AIMS-AMP Capital Industrial on December 24. Also, the names of its property manager and manager were changed.

Additionally, AIMS-AMP Capital Industrial Reit also appointed two new non-independent, non-executive directors as well as announced three resignations from its board – an executive director, a non-independent, non-executive director and a non-independent, non-executive deputy chairman.

The Reit completed its rights issue and issued 975.6 million for the new rights units, raising its number of units in issue to 1.46 billion.