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Asia Pacific Data Centre's meeting to vote on wind-up adjourned

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Asia Pacific Data Centre's meeting to vote on wind-up adjourned

Asia Pacific Data Centre, or APDC's Sept. 14 extraordinary general meeting that was scheduled to vote on a proposal by the data center-focused real estate investment trust's tenant and security holder, NextDC Ltd., to wind up the REIT will be canceled and dissolved, NextDC said in a release, citing minutes of order from the Supreme Court of New South Wales.

The move comes after the Australian REIT decided to call off the planned A$265 million sale of its three data centers after about eight months on the market and no takers.

NextDC may still launch an appeal over the recent court judgement that 360 Capital Group's 360 Capital FM Ltd. subsidiary is eligible to vote on the wind-up. If such an appeal is successful, NextDC will be able to summon a new meeting with 21 days' notice to approve the wind-up proposal. 360 Capital FM holds a 67.3% interest in APDC.