Summerset Group Holdings (ASX:SNZ, NZE:SUM) amended and restated the master trust deed, under which it is able to issue debt securities at certain periods, as it mulls future expansion to states and territories in Australia beyond Victoria, according to filings with the Australian and New Zealand bourses on Thursday.
The retirement village developer and operator as the issuer and The New Zealand Guardian Trust as the supervisor agreed to amend and restate the terms of the deed to permit the Summerset's expansion to all jurisdictions in Australia.
The supervisor said that the amendments to the deed do not have a material adverse effect on retail holders.
Its shares fell 3% on market close on the Australian bourse and 1% on market close on the New Zealand bourse.
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