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APDC Update Post Change of Control

The Board of APDC announced that it has commenced the implementation of the strategic initiatives that comprised the 360 Capital's takeover proposal. These include completing a re-valuation of the assets and increasing the trusts gearing with a $100M loan from BankWest and NAB.

The proceeds from the debt are intended to fund a capital distribution which 360 Capital intend to propose in coming months. NextDC have previously flagged that they will oppose the capital move.

The Board also announced it expects to reinstate quarterly distributions and is on the hunt for other acquisitions in line with the REITs mandate.