Check the 36 page notice from PES on the 22nd. The first three pages lays it all out. Min 90% acceptance and for the ASX not to drop below 3070.
They are awaiting indep report to confirm the offer is fair and reasonable.
The dates on laid out on page 3. 11 Feb is the earliest you can accept the offer and it will close on 11 Mar. They may extend if they have not acquired all the shares they were after.
SF
PES
pepper residential securities trust no. 21