Oriens Capital, PMG staff and Directors entered into Memorandum of Understanding to acquire 50% stake in PMG Property Funds Management Limited from 360 Capital REIT (ASX:TOT) for NZD 24 million on June 20, 2022. Oriens Capital, PMG staff and Directors entered into an unconditional Share Sale Agreement to acquire 50% stake in PMG Property Funds Management Limited from 360 Capital REIT (ASX:TOT). As part of the sale NZD 17 million of the NZD 22 million consideration is deferred and payable on or prior to 29 August 2022. TOT will also receive consideration equal to 50% of PMG's net tangible assets, estimated at NZD 2 million. As a part of acquisition, purchaser undertook a period of due diligence and negotiation, resulting in the signing of the SSA.

Oriens Capital, PMG staff and Directors completed the acquisition of 50% stake in PMG Property Funds Management Limited from 360 Capital REIT (ASX:TOT) on June 20, 2022.