Update on the Dexus Bloc interest in APAC
| Stock | Dexus (DXS.ASX) |
|---|---|
| Release Time | 22 May 2025, 8:22 a.m. |
| Price Sensitive | Yes |
Dexus updates on APAC interest dispute
- Dexus filed proceedings in NSW Supreme Court to contest validity of APAC notice
- Obtained injunction to temporarily lift suspension of Dexus Bloc Shareholders' rights
- Injunction to remain until final court ruling scheduled for August 2025
Dexus (ASX: DXS) has provided an update on its interest in Australia Pacific Airports Corporation (APAC). In order to protect the interests of the Dexus Bloc Shareholders, Dexus has filed proceedings in the New South Wales Supreme Court contesting the validity of a notice received from the APAC Board. Dexus has obtained an injunction against APAC, which temporarily lifts the suspension of the governance, voting and information rights of the Dexus Bloc Shareholders that arose on the issue of the notice, and prevents any valuation of the Dexus Bloc Shareholder interests from being finalised while the dispute is being determined. The injunction is to remain in place until the Court makes its final ruling in the proceeding, which is scheduled to be heard on 11 and 12 August 2025. In exchange for the injunction, Dexus has committed to pay any damages that may arise to impacted parties in the event that its claim does not succeed. Dexus will continue to assess potential impacts of this matter and will provide further updates in accordance with its disclosure obligations.