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Axis REIT Managers Berhad ("ARMB" or "Company"), the management company of Axis Real Estate Investment Trust ("Axis-REIT") wishes to announce that it has today notified Bursa Malaysia Securities Berhad ("Bursa Securities") of Axis-REIT's non-compliance with Paragraph 8.15 of the Listing Requirements of Bursa Securities which requires at least 25% of the total units of Axis-REIT to be held by at least 1,000 public unitholders holding not less than 100 units each ("Public Shareholding Spread").
The Public Shareholding Spread based on the latest Records of Depositors of Axis-REIT as at 29 September 2006 stood at 52.22%, with the number of public unitholders holding not less than 100 units of 964.
Pursuant to Paragraph 8.15(3) of the Listing Requirements, an extension of six (6) months is automatically granted by Bursa Securities to Axis-REIT, commencing from the date of notification by the Company to Bursa Securities i.e. today.
The Company will take necessary steps to increase the number of the public unitholders of Axis-REIT to comply with the Listing Requirements within six (6) months from the date hereof (i.e. before 3 April 2007).
