Condition imposed by the Board of Valuers, Appraisers & Estate Agents (the "Board of VAEA") on the shareholding structure of Axis Management Sdn Bhd ("Axis Management"), being the property management company of Axis Real Estate Investment Trust ("Axis-REIT")
AXIS REAL ESTATE INVESTMENT TRUST |
Type | Announcement |
Subject | Condition imposed by the Board of Valuers, Appraisers & Estate Agents (the "Board of VAEA") on the shareholding structure of Axis Management Sdn Bhd ("Axis Management"), being the property management company of Axis Real Estate Investment Trust ("Axis-REIT") |
Contents :
Reference is made to the Prospectus of Axis-REIT dated 30 June 2005 in relation to the public offering of units in Axis-REIT and the letter from the Board of VAEA dated 27 June 2005 wherein the Board of VAEA has granted Axis Management a 3 months grace period from 27 June 2005 to restructure the company’s shareholding to comply with Section 23 of the Valuers, Appraisers and Estate Agents Act 1981 and its rules ("VAEA Act").
On behalf of Axis-REIT, Axis REIT Managers Berhad wishes to announce that Axis Development Sdn Bhd, being the holding company of Axis Management has on 22 September 2005 disposed its entire shareholdings in Axis Management to the following parties:
Name | Number of shares | % |
Khor Siew Suan | 50,000 | 50 |
Lin Eng Lee | 50,000 | 50 |
Following the aforesaid, Axis Management has ceased to be a subsidiary of Axis Development Sdn Bhd.
This announcement is dated 23 September 2005.
Announcement Info
Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
Stock Name | AXREIT |
Date Announced | 23 Sept 2005 |
Category | General Announcement |
Reference No | CC-050923-45349 |