OTHERS AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT”) (I) PROPOSED AUTHORITY TO ALLOT AND ISSUE UP TO 75,180,200 NEW UNITS IN AXIS-REIT (“UNITS”), REPRESENTING UP TO 20% OF THE EXISTING APPROVED FUND SIZE OF AXIS-REIT OF 375,901,000 UNITS; AND (II) PROPOSED RECURRENT AND OPTIONAL INCOME DISTRIBUTION REINVESTMENT PLAN THAT ALLOWS UNITHOLDERS OF AXIS-REIT TO REINVEST THEIR INCOME DISTRIBUTION IN NEW UNITS
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | OTHERS |
| Description | AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT”) (I) PROPOSED AUTHORITY TO ALLOT AND ISSUE UP TO 75,180,200 NEW UNITS IN AXIS-REIT (“UNITS”), REPRESENTING UP TO 20% OF THE EXISTING APPROVED FUND SIZE OF AXIS-REIT OF 375,901,000 UNITS; AND (II) PROPOSED RECURRENT AND OPTIONAL INCOME DISTRIBUTION REINVESTMENT PLAN THAT ALLOWS UNITHOLDERS OF AXIS-REIT TO REINVEST THEIR INCOME DISTRIBUTION IN NEW UNITS |
(Unless otherwise stated, definitions used in this announcement shall carry the same meanings as defined in the announcement dated 9 February 2011 in relation to the abovementioned proposals). We refer to the announcements dated 9 February 2011, 28 February 2011, 26 April 2011 and 13 May 2011 in relation to, among others, the Proposed Income Distribution Reinvestment Plan. On behalf of the Board of Directors of Axis REIT Managers Berhad, the management company of Axis-REIT, Maybank Investment Bank Berhad wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has, through its letter dated 31 May 2011 approved the implementation of the Proposed Income Distribution Reinvestment Plan subject to the following conditions:
(i) any fractional entitlement of Units resulting from the option to reinvest the income distribution in new Units under the Proposed Income Distribution Reinvestment Plan shall be paid in cash;
(ii) the Proposed Income Distribution Reinvestment Plan must be approved by Unitholders in a Unitholders’ meeting and the issuance of Units must be approved by Unitholders on an annual basis;
(iii) the Book Closure Date can only be announced after the announcements of the following:
(a) the particular income distribution that will be implemented through the Proposed Income Distribution Reinvestment Plan; and
(b) issue price of the Units to be issued under the Proposed Income Distribution Reinvestment Plan; and
(iv) adherence to Paragraph 6.03(3) of the Main Market Listing Requirements of Bursa Securities when seeking Unitholders’ mandate. This announcement is dated 31 May 2011. | |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 31 May 2011 |
| Category | General Announcement |
| Reference No | MI-110531-62134 |
