The Board of Directors of Axis REIT Managers Berhad, the management company of Axis Real Estate Investment Trust (“Axis-REIT”), wishes to announce that OSK Trustees Berhad, the trustee for Axis-REIT, has entered into an agreement for the acquisition of two (2) parcels of contiguous industrial land identified as PN 3845 for Lot 5641 measuring approximately 54,775 sq. metres with land tenure of 60 years leasehold expiring on 22 October 2052 and HSD 55931 for PT 4118 measuring approximately 0.0823 hectare with land tenure of 60 years leasehold expiring on 19 May 2068 both in the Mukim 11 District of Seberang Perai Tengah, State of Pulau Pinang built upon with industrial buildings and ancillary buildings, from Apex Properties Sdn Bhd (Co. No. 360467-T) for a total lump sum cash consideration of RM59.0 Million.
This announcement is dated 28 September 2011.
