New Europe Property Investments plc and Rockcastle Global Real Estate's circulars to their respective shareholders and prospectus composed pursuant to the listing of their proposed merged entity gained approval from the Johannesburg Stock Exchange.

General meetings regarding the resolutions necessary to implement the merger transaction are scheduled July 3 and July 6 for shareholders of Rockcastle and NEPI respectively, while circulars and prospectus will be issued June 9.

The merger transaction between the two companies is expected to become unconditional as of July 6.

Meanwhile, the merger implementation and transfer of NEPI and Rockcastle assets and liabilities, including a 100% interest in all underlying subsidiaries to the merged company is slated to take place July 11.

As planned, the entire issued share capital of NEPI Rockcastle PLC will be listed on the main board of the Johannesburg stock exchange and on Euronext Amsterdam July 12. Trading in the merged entity's shares will commence on the same day.

NEPI and Rockcastle shareholders are expected to be on record July 14 for the receipt of new company shares based on the predetermined swap ratio of 4.7 existing Rockcastle shares for every 1 existing NEPI share.

In addition, both separate companies will be delisted from the JSE July 18.