National Storage REIT (ASX:NSR) today announced that the Supreme Court of New South Wales has formally approved the proposed share scheme of arrangement and provided the second judicial advice for the trust scheme. This pivotal decision means the comprehensive schemes, under which entities jointly indirectly owned by a consortium of Brookfield Funds and affiliates of the GIC Investor will acquire all issued stapled securities of NSR, have become legally effective. National Storage is the largest self-storage provider in Australia and New Zealand, managing over 290 locations and serving more than 100,000 residential and commercial customers with tailored storage solutions. The company holds the distinction of being the first independent, internally managed, and fully integrated owner and operator of self-storage centres listed on the Australian Securities Exchange.
The Supreme Court of New South Wales rendered its orders approving the share scheme and providing judicial advice for the trust scheme on April 21, 2026. Following this, NSR confirmed that an office copy of these Court orders, alongside an executed Supplemental Deed formally amending the constitution of the National Storage Property Trust, was duly lodged with the Australian Securities and Investments Commission. With these essential lodgements completed, the schemes are now legally binding and effective, representing a crucial step towards the finalisation of the significant acquisition. Consequently, trading in NSR Securities on the ASX is expected to be suspended from the close of trading today.
Looking ahead, the Scheme Record Date, which is crucial for determining entitlements to the Scheme Consideration, has been set for 7:00pm (Sydney time) on April 29, 2026. Following this, the definitive Implementation Date, when the transaction will be fully implemented and the Scheme Consideration paid to eligible Scheme Securityholders, is currently expected to be May 8, 2026. While these dates are indicative, National Storage REIT has affirmed that any subsequent changes to this timeline will be promptly announced on the ASX.
