Asia Pacific Data Centres

26 November 2017

360 Capital Group’s Tony Ptt and David van Aanholt have now taken positions on the Board of Australia Pacific Data Centres following their take over of the majority of units in the Trust. NextDC which still owns 29% of the Trust withdrew its nominations for board seats before the shareholder meeting, but voted its stake against the board’s remuneration report in a first strike. Critically, there were 380 shareholders who did not accept Mr Pitt’s offer. That figure is above the 300 or so unitholders required for minimum liquidity to retain the stock’s listing on the Australian Securities Exchange. 360 Capital said the new board would undertake a strategic review of the data centres fund, including looking at opportunities to grow APDC in line with its mandate. 360 will also look to implement the capital strategies it foreshadowed as part of its offer. #AsiaPacificDataCentres