Rivals nominate Capital Properties directors

Rival property investors Kiwi Income Property Trust and AMP Property have nominated representatives to replace outgoing board members at potential takeover target Capital Properties.

Each has invested more than $50 million in Capital, amid speculation they could be interested in launching a full takeover.

Kiwi has nominated Richard Didsbury, while AMP Capital has put forward Murray Gribben.

Tony Frankham, also nominated by Kiwi Income, has already been appointed as an additional independent director, subject to shareholder approval.