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Aspen receives revised investment management proposal from Discovery Holiday

Australia-listed property group Aspen Group further postponed its extraordinary general meeting, which is being convened over the outsourcing of its investment management, after receiving a revised investment management proposal from Discovery Holiday Parks Pty. Ltd.

Discovery Holiday, which is vying for the spot with Mill Hill Capital Pty. Ltd., said it will offer Aspen a "significantly lower" fee structure for its services than Mill Hill.

Discovery Holiday also pledged, among other things, to offer an upfront incentive payment of A$250,000 and to deliver immediate cost savings and other benefits to Aspen Group.

Aspen Group rescheduled its extraordinary general meeting to Jan. 11, 2019, from Dec. 21.