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Elanor Investors Group ( (AU:ENN) ) has shared an update.
Elanor Investors Group has confirmed the termination of its investment and property management agreements for the Elanor Commercial Property Fund after securityholders voted at an extraordinary general meeting to remove Elanor Funds Management Limited as the fund’s responsible entity and appoint Evolution Trustees Limited. Exercising its contractual rights following the change of responsible entity without its consent, Elanor will receive a reduced compensation payment of $8.5 million from the fund and says it will support an orderly transition, emphasising its track record of strong fund performance and signalling a managed but definitive exit from ECF’s management structure.
More about Elanor Investors Group
Elanor Investors Group (ASX: ENN) is a real estate investment and funds management group with funds under management across Australia and New Zealand, focusing on commercial office, retail, industrial and healthcare properties. The company specialises in acquiring and unlocking value in real estate assets that offer strong income and capital growth potential.
Technical Sentiment Signal: Sell
Current Market Cap: A$121.7M
See more insights into ENN stock on TipRanks’ Stock Analysis page.