Accordia Golf Trust Minority Shareholders Unhappy With Asset Buyout Offer

News about Accordia Golf Trust

Accordia Golf Trust decision to sell out all its asset is making some shareholders unhappy as the price (an implied consideration of S$0.732 per unit) is seen by some as too low:

HIBIKI Path Advisors has joined hands with more than 50 other minority unitholders to request that Accordia Golf Trust Management (AGTM), the trustee manager of Accordia Golf Trust (AGT), convene an extraordinary general meeting (EGM) on Aug 18.

This is Hibiki's latest move to block the sale of the trust's 88 golf courses in Japan to sponsor Accordia Golf.

Accordia Golf Trust
Price0.650 SGD
NAV55.840 JPY
Yield (4 quarters)6.62%