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”) |
We refer to the announcement dated 11 March 2014 in relation to the 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 is pleased to announce that Bursa Malaysia Securities Berhad had, vide its letter dated 27 March 2014 (which was received on 1 April 2014), approved the 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. For clarification purposes, the maximum number of Units which could be issued pursuant to the Proposed Placement has been revised to 86,040,951 Units given that the approval of the Securities Commission Malaysia for the increase in fund size of the Fund to accommodate the issuance of new Units pursuant to the Proposed Placement was up to a maximum of 547,280,040 Units and taking into account the total of 4,721,868 new Units which had been issued in 2013 pursuant to the income distribution reinvestment plan. This announcement is dated 1 April 2014. | |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 1 Apr 2014 |
| Category | General Announcement |
| Reference No | MI-140401-66996 |
