NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS): FUND RAISING AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR “FUND”) (I) PROPOSED AUTHORITY TO ALLOT AND ISSUE UP TO 86,040,951 NEW UNITS IN AXIS-REIT (“UNITS”), REPRESENTING UP TO 18.65% OF THE EXISTING ISSUED FUND SIZE OF AXIS-REIT OF 461,239,089 UNITS (“PROPOSED AUTHORITY”) TO FACILITATE A PLACEMENT EXERCISE (“PROPOSED PLACEMENT”); (II) PROPOSED INCREASE IN THE EXISTING ISSUED FUND SIZE OF AXIS-REIT FROM 461,239,089 UNITS UP TO A MAXIMUM OF 547,280,040 UNITS PURSUANT TO THE PROPOSED AUTHORITY (“PROPOSED INCREASE IN FUND SIZE”); AND (III) PROPOSED SUBSCRIPTION OF NEW UNITS UNDER THE PROPOSED PLACEMENT BY THE INTERESTED PERSONS (“PROPOSED SUBSCRIPTION”) (THE PROPOSED AUTHORITY, PROPOSED INCREASE IN FUND SIZE AND PROPOSED SUBSCRIPTION ARE COLLECTIVELY REFERRED TO AS “PROPOSALS”)
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING |
| Description | AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR “FUND”) (I) PROPOSED AUTHORITY TO ALLOT AND ISSUE UP TO 86,040,951 NEW UNITS IN AXIS-REIT (“UNITS”), REPRESENTING UP TO 18.65% OF THE EXISTING ISSUED FUND SIZE OF AXIS-REIT OF 461,239,089 UNITS (“PROPOSED AUTHORITY”) TO FACILITATE A PLACEMENT EXERCISE (“PROPOSED PLACEMENT”); (II) PROPOSED INCREASE IN THE EXISTING ISSUED FUND SIZE OF AXIS-REIT FROM 461,239,089 UNITS UP TO A MAXIMUM OF 547,280,040 UNITS PURSUANT TO THE PROPOSED AUTHORITY (“PROPOSED INCREASE IN FUND SIZE”); AND (III) PROPOSED SUBSCRIPTION OF NEW UNITS UNDER THE PROPOSED PLACEMENT BY THE INTERESTED PERSONS (“PROPOSED SUBSCRIPTION”) (THE PROPOSED AUTHORITY, PROPOSED INCREASE IN FUND SIZE AND PROPOSED SUBSCRIPTION ARE COLLECTIVELY REFERRED TO AS “PROPOSALS”) |
On behalf of the Board of Directors of Axis REIT Managers Berhad, being the management company of Axis-REIT (“Manager”), Maybank Investment Bank Berhad (“Maybank IB”) wishes to announce that an application has been submitted to Bursa Malaysia Securities Berhad today to seek an extension of time of up to 3 October 2014 to complete the following proposals: (i) authority to allot and issue up to 90,762,819 new Units to facilitate a placement exercise; and (ii) authority to allot and issue up to 2,000,000 new Units for the purpose of the payment of management fee to the Manager in the form of new Units. In addition, Maybank IB wishes to announce that the Manager proposes to undertake the following: (i) renewal of the authority to allot and issue up to 86,040,951 new Units, representing up to 18.65% of the existing issued fund size of Axis-REIT of 461,239,089 Units; In order to accommodate the issuance of up to 86,040,951 new Units pursuant to the Proposed Authority to facilitate the Proposed Placement, the Manager proposes to increase the existing issued fund size of Axis-REIT from 461,239,089 Units up to a maximum of 547,280,040 Units; and (ii) the Proposed Subscription. Further details of the Proposals are set out in the attachment below. This announcement is dated 11 March 2014.
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Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 11 Mar 2014 |
| Category | General Announcement |
| Reference No | MI-140311-63917 |
