Arnold Bloch Leibler advised on the transaction
Phileo will seek shareholder approval to implement the selective capital reduction, which is expected to be completed in January 2019.
Under the proposal, shareholders have the option to elect to participate in the selective capital reduction and receive $12.66 cash per cancelled share, or to opt-out and continue to be a Phileo shareholder. Depending on the number of shares cancelled, Mr Koh’s shareholding in Phileo will increase up to a maximum of 56.16%, in what would then be an unlisted, privatised entity.
Phileo Australia Limited is a property investment company engaged in the development and rental of properties in Australia.
Arnold Bloch Leibler is advising Rudy Koh, Managing Director and major shareholder of ASX-listed company Phileo Australia Limited with a team including Jeremy Lanzer (Picture), Luke Jedynak and Simone Gould.
Law Firms: Arnold Bloch Leibler;
Clients: Rudy Koh;