Walls & Futures REIT PLC (LON:WAFR) has again urged shareholders to take no action on the bid from Virgata Services after noting the initial level of support.
At the first closing date, Virgata received 9.13% acceptances and the WAFR board said it was delighted so few shareholders had accepted.
"We look forward to closing this unfortunate chapter and move forward to delivering the ambitious and credible growth strategy as outlined in our response document," said the statement.
WAFR repeated that as of 31st March 2021, its NAV of 102p per share was more than twice the offer price of 50p per share.
The statement also clarified its position on the intention to include a winding-up resolution at its next AGM if the offer fails.
If it decides not to go ahead with the resolution Aquis-listed WAFR said it will have to consult the Takeover Panel and explain the reasons.