Retirement village operator in trading halt

Published: 10:01AM Tuesday July 17, 2012 Source: ONE News

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  Source: Metlifecare

Retirement village operator Metlifecare is in a trading halt until a bookbuild is carried out.

The company is going through a merger with Vision Senior Living and Private Life Care, which includes a share issue.

The deal with the two other operators was conditional on approval from the Overseas Investment Act, as well as a shareholder meeting held in June.

Metlifecare will get eight new villages after the merger, which will pump up its portfolio to 24 villages.

Shares in the company closed on Monday at $2.25.

More to come.

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