BURSA ANNOUNCEMENTS


 

Date : 21 April 2014

OTHERS DISTRIBUTION OF RM10.952 MILLION GAIN ON DISPOSAL OF AXIS PLAZA TO UNITHOLDERS

AXIS REAL ESTATE INVESTMENT TRUST

TypeAnnouncement
SubjectOTHERS
DescriptionDISTRIBUTION OF RM10.952 MILLION GAIN ON DISPOSAL OF AXIS PLAZA TO UNITHOLDERS

The Board of Directors of Axis REIT Managers Berhad, the management company ("Manager") of Axis Real Estate Investment Trust ("Axis-REIT" or "the Fund"), wishes to announce that the disposal of Axis Plaza completed on 25 March 2014 has resulted in a total realised gain on disposal of RM10,952,000 ("Gain on Disposal") which is represented by the gain on disposal of RM1,614,000 and realisation of unrealised income* of RM9,338,000. The Gain on Disposal translates to additional income distribution of 2.37 sen per unit.

In ensuring stability of the Fund's income distribution payment, the Manager is pleased to announce that the Gain on Disposal will be distributed in three (3) tranches as part of the interim income distributions to be payable in year 2014 as follows:

Income Distribution Distribution of Gain on Disposal (RM)Additional distribution per unit (based on unit capital as at 21 April 2014 of 461,239,089 units)
1st interim 20143.690 million0.80 sen
2nd interim 20143.690 million0.80 sen 
3rd interim 20143.572 million 0.77 sen 
Total 10.952 million 2.37 sen

Note 
*realisation of unrealised income - recognition of prior years' unrealised fair value gain on market value of Axis Plaza as realised income upon disposal. 


This announcement is dated 21 April 2014.




Announcement Info

Company NameAXIS REAL ESTATE INVESTMENT TRUST  
Stock Name AXREIT    
Date Announced21 Apr 2014  
CategoryGeneral Announcement
Reference NoCC-140418-67916

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