Peet Limited has lodged its draft scheme booklet with the Australian Securities and Investments Commission, representing a critical procedural milestone in the proposed acquisition by Ingenia Communities Group. Completed on 9 October 2026, the lodgement initiates ASIC’s formal review of the scheme documentation and marks the beginning of the final phases before a shareholder vote, with management targeting implementation by late December 2026.
The scheme booklet is the central document through which Peet shareholders will evaluate and ultimately decide whether to approve the acquisition. The document includes the independent expert’s report, a detailed legal assessment that will be crucial to shareholder decision-making. ASIC’s role in reviewing the draft booklet is primarily to ensure procedural compliance and that shareholder protections are adequate.
Following ASIC’s review, Peet management has targeted a first court hearing for late October 2026. At this hearing, the court will be asked to approve the scheme booklet and make orders convening a meeting of Peet shareholders. This court approval is a formal requirement under the Corporations Act and a key regulatory gate. Once approved and registered with ASIC, the scheme booklet will be released publicly, printed and dispatched to shareholders in early November 2026.
The Scheme Meeting is expected in early December 2026, with implementation anticipated by late December 2026. Peet has acknowledged these dates are indicative and subject to the court approval process and other regulatory matters, meaning the actual timeline may shift. Such delays are not uncommon in scheme of arrangement processes, though the company’s published schedule provides investors with expected visibility.
A significant aspect of this announcement is the Peet Board’s continued unanimous recommendation that shareholders vote in favour of the acquisition, provided two conditions hold. First, no Superior Proposal is made to the company. Second, the independent expert continues to conclude the Scheme is in shareholders’ best interests. Each Peet director has confirmed their intention to vote their holdings in favour, subject to these same qualifications.
For existing Peet shareholders, this lodgement removes a layer of uncertainty around procedural progress. The acquisition was announced earlier this year at fixed consideration per share, and the regulatory and shareholder approval process now moves into more concrete phases. Shareholders will have the opportunity to examine the independent expert’s report and supporting documentation before the December vote.
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The next critical milestone is the court hearing targeted for late October, which will signal whether the process is tracking on schedule. The release of the scheme booklet in early November will be equally important, as investors and shareholders will then have the independent expert’s detailed assessment of the acquisition’s merits. Any material changes to the expected timeline or the independent expert’s conclusions could affect shareholder sentiment ahead of the vote.
View the full ASX announcement (PDF)
About Ingenia Communities Group Limited (ASX: INA)
Ingenia Communities Group is an Australian real estate investment trust that owns and operates communities offering rental and holiday accommodation with a focus on the seniors market, primarily targeting the over-55s demographic. The company operates 100 communities across multiple brands including Ingenia Lifestyle, Ingenia Gardens, Ingenia Holidays, and Ingenia Rental. It generates revenue from property leasing, tourism, and retirement accommodation services across Australia.
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