Cube Highways Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Cube Highways Trust has announced the results of its postal ballot conducted via remote e-voting between March 19 and April 17, 2025. Two resolutions were put to unitholders: (1) Authority to increase borrowings, which was approved with 100% of votes cast in favor, representing 79.10% of total outstanding ordinary units (above the 75% threshold required); and (2) Amendment to the Corporate Governance Policy, which was approved with 60.69% of votes cast in favor, just clearing the 60% threshold needed. On the second resolution, institutional public unitholders voted significantly against, with only about 2% in favor. A total of 183 unitholders were on record, with 21 unitholders participating in the voting.
The borrowings resolution gives the InvIT management more flexibility to raise additional debt, which could fund future acquisitions or refinance existing debt but also increases leverage risk for unitholders. The narrow margin of approval on the governance policy change (with notable dissent from institutional public unitholders) may raise minor governance concerns, though both resolutions have been formally cleared.