Custodian REIT takeover of Drum Income Plus poised for final green light

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Custodian REIT PLC (LSE:CREI) said its takeover of Drum Income Plus REIT plc should complete on Thursday after the final regulatory boxes are ticked.


Earlier this week, the scheme of arrangement to complete the acquisition was sanctioned in court after shareholders had approved the deal.


Green lights are now awaited from the Financial Conduct Authority and the London Stock Exchange in relation to the admission of 20,247,054 new Custodian REIT shares to listing, which is expected to take place by the time trading begins on 4 November.


Each Drum shareholder as of 2 November will be entitled to receive 0.530 new Custodian shares for each Drum share held.

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