A plan by Argosy Property Trusts to corporatise has been approved by a majority of unitholders.
The board says corporatisation, which involves turning the unit trust into a listed company, will results in cost savings and improved corporate governance.
More than 99% of unit holders voted in favour the move at an extraordinary meeting on Wednesday.
The trust's units will be placed on a trading halt at 5pm on Friday and shares will be transferred to unit holders next Wednesday.
They will commence trading the NZX on 1 March.
Argosy's board will remain the same.
Separately, Philip Burdon will retire from the board at the end of the month.
He has been a director since October 2004.
