AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT" OR "THE FUND") (I) THE PROPOSED PLACEMENT OF UP TO 120,000,000 NEW UNITS, REPRESENTING APPROXIMATELY 46.9% OF THE EXISTING UNITS IN AXIS-REIT IN CIRCULATION AT A PRICE TO BE DETERMINED LATER (“PROPOSED PLACEMENT”); AND (II) THE PROPOSED INCREASE IN THE EXISTING APPROVED FUND SIZE OF AXIS-REIT OF 255,901,000 UNITS TO A MAXIMUM OF 375,901,000 UNITS (“COLLECTIVELY REFERRED AS “PROPOSALS”)
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT" OR "THE FUND") (I) THE PROPOSED PLACEMENT OF UP TO 120,000,000 NEW UNITS, REPRESENTING APPROXIMATELY 46.9% OF THE EXISTING UNITS IN AXIS-REIT IN CIRCULATION AT A PRICE TO BE DETERMINED LATER (“PROPOSED PLACEMENT”); AND (II) THE PROPOSED INCREASE IN THE EXISTING APPROVED FUND SIZE OF AXIS-REIT OF 255,901,000 UNITS TO A MAXIMUM OF 375,901,000 UNITS (“COLLECTIVELY REFERRED AS “PROPOSALS”) |
| Contents | We refer to the announcement dated 12 August 2008 in relation to the Proposals. On behalf of the Board of Directors of Axis REIT Managers Berhad, the manager of Axis-REIT (“the Manager”), Aseambankers Malaysia Berhad (“Aseambankers”) is pleased to announce that the Securities Commission (“SC”) had, vide its letter dated 2 September 2008, approved the Proposals, subject to the following conditions: (i) Aseambankers and the Manager are to inform the SC of the actual units for each tranche and the date of issuance of the units; and (ii) The issuance of the new units of Axis-REIT and the listing of the new units on the Main Board of Bursa Malaysia Securities Berhad must be completed within 6 months from the date of the SC’s approval. The approval is deemed to lapse if the Manager fails to do so within the stipulated time frame. Further thereto, the Manager will be seeking Axis-REIT’s unitholders’ approval for a general mandate (pursuant to Clause 14.03 of the Guidelines on Real Estate Investment Trusts issued by the SC on 21 August 2008) to issue the first tranche of the units in relation to the Proposed Placement. This announcement is dated 3 September 2008. |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 3 Sept 2008 |
| Category | General Announcement |
| Reference No | CU-080903-60815 |
