Cache resolves 51 Alps issue outside court

Its trustee will receive a $8.20m lump-sum payment.

Cache Logistics Trust (CACHE) announced that its manager and trustee have reached an amicable resolution of the dispute with Schenker and C&P.

According to OCBC Investment Research, the trustee and Schenker have entered into a fresh lease agreement where Schenker will lease 100% of the property for a period of 46 months starting 1 November 2017.

The trustee is due to receive a lump-sum payment of S$8.2m.

Some of the details of the settlement are confidential.

"On a pro forma basis, 9M2017 DPU would have been 5.454 cents instead of 5.141 cents," OCBC analyst Deborah Ong said.

CACHE said the court case and subsequent appeals could have extended into 2018 should they have continued.

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