AREIT PSE:AREIT:
BOARD APPROVED PROPERTY-FOR-SHARE SWAP TRANSACTION WITH AYALA LAND, OTHERS
AGGREGATE VALUE OF THE TWO PROPERTIES STANDS AT 19.5 BILLION PESOS
UNDER DEAL, SUBSCRIPTION OF AYALA LAND, OTHERS TO 441.1 MILLION PRIMARY COMMON SHARES OF AREIT
PROPERTIES EXCHANGED FOR AREIT SHARES PRICED AT 44.15 PESOS PER SHARE