Court rules RNA EGM can proceed
Countries: United States
STATEMENT ISSUED BY WESTFIELD HOLDINGS LTD & WESTFIELD AMERICA TRUST
Westfield Holdings Limited and Westfield America Trust today announced that the Enterprise Chamber of the Amsterdam Court of Appeal had ruled that the extraordinary general meeting of Rodamco North America (RNA) could proceed as planned on March 25.
The EGM is being held to seek shareholder approval for the sale of RNA’s assets to Westfield America Trust, Simon Property Group and The Rouse Company.
The EGM was to have been held on 26 February but was postponed following a request by the Dutch Shareholders’ Association (VEB) that the court rule on claims of mismanagement by the Boards of RNA late last year. The Court has said it would rule on these claims on Friday, March 22, in order to allow shareholders to make an informed decision at the EGM.
Meetings of Westfield Holdings shareholders and Westfield America Trust members will be held in late April to approve various aspects of the transaction which is expected to be completed, as scheduled, in early May.