Assura investors back REIT move
18 February 2013 07:15
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Shareholders in healthcare landlord Assura Group voted on Friday to convert to a real estate investment trust in April 2013.
The number of votes cast represented 85.8% of the total number of votes capable of being cast at the extraordinary general meeting. One hundred per cent of votes cast were in favour of REIT conversion.
A second resolution at the EGM was also passed; to adopt a new "value creation plan". However, 19.6% of votes casts were against the resolution.
Assura is based in Warrington and has a portfolio of primary care centres and GP surgeries valued at £556m on 30 September 2012.
REIT status allows for tax efficiencies as income from property is moved from corporate to investor level.
Shares in Assura were flat at 34p.
