Urban Logistics REIT’s board has agreed to an internalisation proposal with the principals of Logistics Asset Management (LAM), its investment adviser.
The proposed changes will be implemented via the acquisition of the company by the management vehicle, according to a stock exchange notice today (7 March). As part of the internalisation, the composition of the vehicle's board will change, with Richard Moffitt becoming CEO, while the roles of chief investment officer (CIO) and chief financial officer (CFO) will be filled by Justin Upton and Jamie Waldegrave, respectively, who will both also join the board. Urban Logistics urges abrdn Property Income to reconsider its takeover proposal The initial consideration will be of £6.8m, s...
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