COMPLETION OF THE ACQUISITION BY AXIS REAL ESTATE INVESTMENT TRUST ("Axis-REIT" OR THE "FUND") OF A FREEHOLD INTEREST IN A PARCEL OF COMMERCIAL LAND, HELD UNDER HS(M) 21211 PT92180 LOCALITY OF KAMPONG PADANG, BANDAR SUNGAI PETANI, DAERAH KUALA MUDA, NEGERI KEDAH DARUL AMAN, PRESENTLY BUILT UPON WITH A GENERAL-PURPOSE SINGLE STOREY WAREHOUSE AND OTHER SUPPORTING STRUCTURES PRESENTLY USED FOR THE OPERATIONS OF GIANT HYPERMARKET, FROM RAYA PEGUN SDN BHD (CO.NO.705774-W) FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM38,000,000 ("PROPOSED ACQUISITION OF THE PROPERTY")
AXIS REAL ESTATE INVESTMENT TRUST
Type
Announcement
Subject
COMPLETION OF THE ACQUISITION BY AXIS REAL ESTATE INVESTMENT TRUST ("Axis-REIT" OR THE "FUND") OF A FREEHOLD INTEREST IN A PARCEL OF COMMERCIAL LAND, HELD UNDER HS(M) 21211 PT92180 LOCALITY OF KAMPONG PADANG, BANDAR SUNGAI PETANI, DAERAH KUALA MUDA, NEGERI KEDAH DARUL AMAN, PRESENTLY BUILT UPON WITH A GENERAL-PURPOSE SINGLE STOREY WAREHOUSE AND OTHER SUPPORTING STRUCTURES PRESENTLY USED FOR THE OPERATIONS OF GIANT HYPERMARKET, FROM RAYA PEGUN SDN BHD (CO.NO.705774-W) FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM38,000,000 ("PROPOSED ACQUISITION OF THE PROPERTY")
Contents :
Pursuant to the announcement made on 26 July 2007 on the Proposed Acquisition of the Property, Axis REIT Managers Berhad, the management company of Axis-REIT, is pleased to announce that after fulfilling all the terms and conditions as stipulated in the Sale and Purchase Agreement dated 26 July 2007 executed between Raya Pegun Sdn Bhd and OSK Trustees Berhad, the said Acquisition of the Property is completed on 7 September 2007.
