In a stock exchange notice today (13 March), the trust said Custodian Capital’s term of appointment will no longer be extended until the end of a transition period.
This means that after the recommended merger is completed, CREI can terminate Custodian Capital’s appointment with just 12 months’ notice.
The manager has also agreed to waive a one-time project fee for its additional work on the merger. This fee, originally set at £350,000, will not be charged at all, nor will the planned reduction of the fee to £75,000 in the event the merger does not go through.
Custodian Property I…
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