GLP moves forward with privatization plans

Global Logistic Properties (GLP) has dispatched to shareholders the scheme document in relation to the company’s proposed privatization and expects a full vote on the plan at a Nov. 30 meeting, the Singapore-based warehouse operator said in a statement.    Singapore-based warehouse operator Global Logistic Properties, Ltd. (GLP) has dispatched to shareholders the scheme document in relation to the company’s proposed privatization, the company said in a statement today.
   GLP and Nesta Investment Holdings Ltd. announced the proposed privatization of GLP at $3.38 Singapore (U.S. $2.47) per share back in July.
   Shareholders may attend the scheme meeting in person or send in their vote by appointing a proxy to vote on their behalf at the meeting, GLP said. The latest date and time for lodgement of the proxy form is Nov. 27 at 10:00 a.m., and the scheme meeting is scheduled for Nov. 30 at 10:00 a.m.
   If approved, the expected date for the payment to shareholders is by Jan. 19, 2018, but GLP said this date is indicative and subject to change.