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Calan takes another step

Calan Healthcare Trust has taken another step closer to listing on the New Zealand Stock Exchange.

Tuesday, July 6th 1999, 12:00AM

by Philip Macalister

Calan Healthcare Property Trust, which has been closed to new investments, has moved a step closer to listing on the New Zealand Stock Exchange.

 

The company has finished preparing its listing profile and provided the document, and a proposed notice of meeting to the exchange on Friday.

Once the exchange has approved the profile it will be sent to advisers and unitholders.

General manager Chris Donahoe says a unitholder meeting will be held in August to seek approval to change Calan's trust deed so that it meets the exchange's listing requirements.

Once unitholder approval is gained the trust's manager will then apply to list the trust on the exchange.

Donahoe says that final step can happen almost immediately after the unitholder meeting.

The main reason for listing the trust is to provide unitholders with long-term liquidity.

In the meantime though Calan continues to offer a buy/sell service through Merrill Lynch for unitholders who want to quit their investment.

Merrill Lynch is the lead broker for the proposed listing.

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