THE Supreme Court of Victoria has approved the stapling proposal for the Babcock & Brown Communities Trust.
Under the stapling proposal, eligible Primelife shareholders will be issued units in BBCT. These units will then be stapled to Primelife shares on a one for one basis so that Primelife shares and BBCT units will be traded on Australian Stock Exchange as BBCG Stapled Securities.
Primelife will have its last day on the ASX today and from July 31 2007 BBCG will begin trading on the ASX.
Australian Property Journal
