Brief: Goodman Property Trust Enters Agreement To Internalise Management Of Goodman Property Trust

Goodman New Zealand and Goodman Property Services

26/02/2024 01:24

Feb 26 (Reuters) - Goodman Property Trust  GMT.NZ :
    * ENTERED AGREEMENT TO INTERNALISE MANAGEMENT OF GOODMAN
PROPERTY
TRUST
    * CHANGE TO CORPORATE STRUCTURE TO BRING TO END EXISTING
EXTERNAL
MANAGEMENT ARRANGEMENT WITH ASX-LISTED GOODMAN GROUP
    * GOODMAN GROUP WILL BE PAID NZ$272.4 MILLION TO RELINQUISH
ITS
MANAGEMENT RIGHTS
    * ADDITIONAL NZ$17.6 MILLION WILL ALSO BE PAID TO GOODMAN
GROUP TO
SETTLE GMT'S PERFORMANCE FEE OBLIGATIONS
    * UNDERLYING CASH EARNINGS GUIDANCE FOR FY24 IS REAFFIRMED
AT
AROUND 7.4 NZ CENTS PER UNIT
    * FY25 CASH DISTRIBUTIONS OF 6.5 NZ CENTS PER UNIT ARE
FORECAST
    * FY25 CASH EARNINGS FORECAST TO BE AROUND 7.5 NZ CENTS PER
UNIT

Source text for Eikon:  ID:n426788-6 
Further company coverage:  GMT.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))