Investors in some Waltus property syndicates will know that their property holdings now form part of a merged entity, Waltus Property Investments Limited. We have been advised by Denis Thom, the Chairman of the Board, that the name of this company is to change to URBUS Properties Limited. Denis’ letter reads as follows:
“The re-branding is a deliberate move by your Directors to clearly signal to the market that this is a new property company, with very different characteristics from the original syndicates.
“The strength of the company lies in its strong portfolio, which the Directors actively managed to provide attractive and reliable income returns for our investors. The portfolio is geographically diverse and includes different classes and types of buildings, including commercial, industrial and retail.
“ ?.. It is important to clarify that URBUS is entirely separate from Waltus Management and other property syndicates that it manages. URBUS has it’s own Board comprising a majority of independent directors. ..”
“?. The company is tracking well against its forecast objectives?.”
Portfolio reports will show the name URBUS in place of Waltus Property Investments Ltd. This affects mostly older syndicates involved in the merger and we are not aware of there being any changes for other Waltus property investments.
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