SINGAPORE - ESR-REIT requested a lifting of its trading halt on Monday morning before trading hours began, days after unitholders approved a merger with Viva Industrial Trust (VIT) that bringsthe sending the real estate investment trust (Reit) closer towards becoming Singapore's fourth-largest industrial property trust.

Viva Industrial Trust also requested a lift of its trading halt on Monday morning.

At the extraordinary general meeting (EGM) on Aug 31 for ESR-Reit, holders of 94.2 per cent of non-abstaining units that voted okayed the key resolution to approve the merger.

Under the proposed merger, ESR-Reit will acquire all of Viva's stapled securities in exchange for S$9.60 in cash and 160 new ESR-Reit units for every 100 stapled Viva securities held.

Related resolutions regarding the issue of consideration units and a whitewash resolution also passed with more than 90 per cent approval.

That afternoon at VIT's EGM and scheme meeting, holders of VIT's stapled securities approved all the resolutions, with 96.88 per cent of votes in favour of the resolution on proposed VIT trust scheme amendments and 96.6 per cent of votes in approval for the resolution on proposed VIT Facilitation Fee amendments.

The scheme resolution was approved by 88.47 per cent of holders that voted.

VIT managers will submit their application to the court for it to be green-lighted.

VIT units closed on Aug 30 at 91 cents and fell half a cent yesterday to 90.5 cents while ESR-Reit units closed on Aug 30 at 52 cents. They closed a cent lower yesterday at 51 cents.