OTHERS AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR “FUND”) (I) AUTHORITY TO ALLOT AND ISSUE UP TO 83,579,942 NEW UNITS IN AXIS-REIT (“UNITS”) TO FACILITATE A PLACEMENT EXERCISE (“PROPOSED PLACEMENT”) AND INCREASE IN THE ISSUED FUND SIZE OF AXIS-REIT TO A MAXIMUM OF 547,280,040 UNITS; AND (II) AUTHORITY TO ALLOT AND ISSUE UP TO 2,000,000 NEW UNITS FOR THE PURPOSE OF THE PAYMENT OF MANAGEMENT FEE TO AXIS REIT MANAGERS BERHAD IN THE FORM OF NEW UNITS
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | OTHERS |
| Description | AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR “FUND”) (I) AUTHORITY TO ALLOT AND ISSUE UP TO 83,579,942 NEW UNITS IN AXIS-REIT (“UNITS”) TO FACILITATE A PLACEMENT EXERCISE (“PROPOSED PLACEMENT”) AND INCREASE IN THE ISSUED FUND SIZE OF AXIS-REIT TO A MAXIMUM OF 547,280,040 UNITS; AND (II) AUTHORITY TO ALLOT AND ISSUE UP TO 2,000,000 NEW UNITS FOR THE PURPOSE OF THE PAYMENT OF MANAGEMENT FEE TO AXIS REIT MANAGERS BERHAD IN THE FORM OF NEW UNITS |
(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the announcement dated 12 September 2014 in relation to, among others, the Proposed Extension of Time.) We refer to the announcement dated 12 September 2014 in relation to, among others, the Proposed Extension of Time. On behalf of the Board, Maybank IB is pleased to announce that Bursa Malaysia Securities Berhad had, vide its letter dated 13 October 2014, approved the extension of time of up to 3 April 2015 to complete the following: (i) authority to allot and issue up to 90,762,819 new Units to facilitate the Proposed Placement; and (ii) authority to allot and issue up to 2,000,000 new Units for the purpose of the payment of management fee to the Manager in the form of new Units. For clarification purposes, the maximum number of Units that may be allotted and issued under the Proposed Placement has been revised to 83,579,942 Units given that the approval of the Unitholders for the increase in the issued fund size of Axis-REIT was up to a maximum of 547,280,040 Units and taking into account the following: (i) 2,423,762 new Units which were issued on 13 June 2013 pursuant to the income distribution reinvestment plan that allows the Unitholders the option to reinvest their income distribution in new Units (“IDRP”); (ii) 2,298,106 new Units which were issued on 13 December 2013 pursuant to the IDRP; and (iii) 2,461,009 new Units which were issued on 13 June 2014 pursuant to the IDRP. This announcement is dated 14 October 2014. | |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 14 Oct 2014 |
| Category | General Announcement |
| Reference No | MI-141014-43034 |
