By Digifin Pty Ltd · About this coverage
Key Points
- Iris Bidder's Statement offers $4.67 per unit for remaining RCT units
- Offer is unconditional; Iris currently holds 85.77% of RCT units
- Independent Board Committee to respond in Target's Statement
- Target's Statement to include an independent expert report
- Unitholders advised to take no action at this time
About Reef Casino Trust (ASX:RCT)
Reef Casino Trust is an ASX-listed trust that owns the Reef Hotel Casino complex in Cairns, Queensland. Reef Corporate Services Limited acts as its responsible entity.
Reef Corporate Services Limited, as responsible entity of Reef Casino Trust (ASX:RCT), refers to a Bidder's Statement lodged with ASIC and served on RCT after close of trading on 24 September 2026 by Iris Cairns Property Pty Ltd as trustee for the Iris Cairns Property Trust. The statement contains an unconditional offer to acquire all units in RCT which Iris does not already own or control at $4.67 per unit. Iris currently holds 85.77% of the units in RCT.
The Bidder's Statement will be assessed by the Independent Board Committee established by RCSL and its advisers. The Committee will evaluate and respond in the Target's Statement, which will include an independent expert report. Unitholders are advised to take no action in response to the Bidder's Statement at this time. RCSL said it will keep the market informed of material developments.
The Target's Statement and independent expert report have not yet been issued.
Source: Reef Casino Trust (ASX:RCT), 25 September 2026. Summary content supplied by Digifin Pty Ltd.
News summary only, not financial advice. It does not consider your objectives, financial situation or needs.