Embassy REIT gets regulatory approval for simplifying ownership of key portfolio assets March 06, 2021 Mike Holland, CEO, Embassy REIT× Embassy Office Parks REIT (Embassy REIT), a publicly listed REIT company, has announced that it has received approval from the National Company Law Tribunal (NCLT) in relation to its composite scheme of arrangement among its entities that restructures and simplifies the ownership of key portfolio assets, including Embassy Manyata and Embassy TechZone. Embassy REIT had initiated the scheme to simplify its holding structure by reducing the shareholding tiers and to create value for its unit holders. More ‘Creating long-term value’ Michael Holland, CEO of Embassy REIT, said, “We are pleased to deliver on our commitment to complete this key restructuring exercise within the targeted time frame of March 2021. This milestone enables us to significantly increase the dividend component as a proportion of our overall quarterly distributions. Given REIT dividends are tax-free, this restructuring is expected to positively impact distributions to the benefit of our unit holders. We continue to focus on creating long-term value in order to maximize returns to our unit holders.”