The manager of Cromwell European REIT (CEREIT) has announced the proposed consolidation of every five existing units in CEREIT, at a date to be determined.

In a filing to SGX dated March 17, the manager states that the number of consolidated units that unitholders will be entitled to will be rounded down, with any fractions of consolidated units to be disregarded.

According to the filing, the rationale for the proposed consolidation includes to “increase market interest and attractiveness of CEREIT and its consolidated units”.

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