Further to the announcements on 18 March 2021 and 22 March 2021, VTH RE received late on 31 March 2021 a proposal, which is expressed to be binding, from Roc Private Equity Pty Ltd to acquire:
- 100% of the issued units in VTH (VTH Units) for $1.12 in cash per VTH Unit by way of a trust scheme (Roc Trust Scheme Proposal); or
- if the Roc Trust Scheme Proposal is not approved by the requisite majority of VTH unitholders, but VTH unitholders approve a resolution under ASX Listing Rule 11, all of the assets of VTH for $322.2 million in cash, subject to certain adjustments,
(together the Roc Proposal).
Under the Roc Proposal VTH would also be permitted to pay a distribution of 2.5c per VTH Unit from rent received for the first half year ended 31 December 2020.
The VTH RE Board must now determine whether the Roc Proposal is a superior proposal which is on terms capable of acceptance by VTH RE and which, but for MAFM’s matching right period, VTH RE would consider it to be in the best interests of unitholders to accept by entering into a binding agreement with Roc. VTH RE will provide a further announcement to the market once it has done so. VTH unitholders do not need to take any action at this time.
If VTH RE makes this determination, MAFM will have a 5 Business Day period to match the Roc Proposal. If MAFM does not provide a matching proposal in this 5 Business Day period, VTH RE could enter into a legally binding agreement with Roc to give effect to the Roc Proposal.
VTH RE will provide an update to VTH unitholders if there are any changes to the timetable as set out in the Supplementary Scheme Booklet dated 24 March 2021.
Click here to read the full Press Release.
For more information:
Jon Snowball
Domestique
Tel.: +61 477 946 068
Email: jon@domestiqueconsulting.com.au
Vitalharvest 
Freehold Trust
Angel Place, 123 Pitt Street
Sydney NSW 2000
Web: vitalharvest.com.au