Iris Cairns Property Boosts Ownership in Reef Casino Trust to 96.20% Through Off-Market Takeover
Kalkine Media
Iris Cairns Property increased its stake in Reef Casino Trust to 96.20% after more acceptances of its off-market takeover offer.Summary
Iris Cairns Property Pty Ltd, as trustee for the Iris Cairns Property Trust, has increased its relevant interest in Reef Casino Trust (ASX: RCT) to 96.20%, up from 91.73%, following additional acceptances of its off-market takeover bid. The updated holding, disclosed in a Form 604 substantial holder notice filed on 13 October 2026, comprises 47,908,594 RCT units. The offer values each unit at $4.67 in cash, per the Bidder's Statement dated 24 September 2026. Of the total, 42,712,230 units (85.77%) are registered directly in Iris's name, while 5,196,364 units (10.43%) are held by unitholders who have accepted the offer but whose units are yet to be transferred. The filing was authorized by director Wassim Arnaout.
(Source：Kalkine Media)