TERMINATION OF THE SALE AND PURCHASE AGREEMENTS PERTAINING TO PROPOSED ACQUISITION OF PROPERTIES
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | TERMINATION OF THE SALE AND PURCHASE AGREEMENTS PERTAINING TO PROPOSED ACQUISITION OF PROPERTIES |
| Contents | Reference is made to the earlier announcement released today on the termination of the sale and purchase agreements dated 1 April 2008 (“SPAs”) respectively, entered into between OSK Trustees Berhad, the trustee of Axis Real Estate Investment Trust ("Axis-REIT") and Well-Built Holdings Sdn Bhd (“Vendor”), for the proposed acquisition of the following properties from the Vendor: (a) GM 811 for Lot No 205 in Tempat Seelong, Mukim Senai-Kulai, Daerah Kulai, State of Johor measuring approximately 2.0477 hectares; and (b) Portion of the land held under GM 1171 for Lot No 211 Tempat Seelong, Mukim Senai-Kulai, Daerah Kulai, State of Johor measuring approximately 5.335 acres (collectively referred to as “Properties”). The Board of Directors of Axis REIT Managers Berhad, the management company of Axis-REIT, wishes to announce the following additional information pertaining to the abovesaid termination of SPAs: 1. Expiry date of the conditional period (as defined and stipulated in the respective SPAs): 30 September 2008 2. Deposit paid to the Vendor's solicitors as stakeholders: RM2.7 million (no other monies paid) 3. Expected date for the refund of deposit paid (together with all accrued interest thereof): within fourteen (14) days from the date of the termination 4. Date of termination of SPAs: 17 October 2008 |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 20 Oct 2008 |
| Category | General Announcement |
| Reference No | CCS-081020-578CC |
