AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT" OR "THE FUND") - PROPOSED RECLASSIFICATION; - PROPOSED AMENDMENTS; - PROPOSED PLACEMENT; AND - PROPOSED INCREASE IN FUND SIZE ("COLLECTIVELY REFERRED AS “PROPOSALS")
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT" OR "THE FUND") - PROPOSED RECLASSIFICATION; - PROPOSED AMENDMENTS; - PROPOSED PLACEMENT; AND - PROPOSED INCREASE IN FUND SIZE ("COLLECTIVELY REFERRED AS “PROPOSALS") |
| Contents | 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 Fund proposes to undertake the following: - (i) proposed reclassification of Axis-REIT from a conventional non Islamic real estate investment trust ("REIT") to an Islamic/ Syariah compliant REIT ("Proposed Reclassification"); (ii) proposed amendments to the Deed dated 15 June 2005 and the Supplemental Deed dated 8 December 2006 (collectively referred to as "Deed") constituting Axis-REIT ("Proposed Amendments"); (iii) proposed placement of up to 120,000,000 new units ("Placement Units"), representing approximately 46.9% of the existing units in Axis-REIT in circulation at a price to be determined later (“Proposed Placement”); and (iv) proposed increase in the existing approved fund size of Axis-REIT of 255,901,000 units to a maximum of 375,901,000 units ("Proposed Increase In Fund Size"). The Proposed Reclassification, Proposed Amendments, Proposed Placement and Proposed Increase In Fund Size are collectively known as "Proposals". Details of the Proposals are set out in the attached file. This announcement dated 4 August 2008. |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 4 Aug 2008 |
| Category | General Announcement |
| Reference No | CU-080804-37449 |
