30 Jul 2010

NPT conversion plan overwhelmingly approved

8:17 pm on 30 July 2010

Investors in National Property Trust have overwhelmingly approved a proposal to develop a detailed plan to internalise the management contract and convert the trust into a listed company.

The resolution was passed by 99% of voters at the trust's annual meeting in Auckland on Friday afternoon.

The board will now prepare a final proposal, on which investors will vote in November.