OTHERS AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR “FUND”) (I) PROPOSED UNIT SPLIT INVOLVING THE SUBDIVISION OF EVERY ONE (1) EXISTING UNIT IN AXIS-REIT (“EXISTING UNIT”) HELD BY THE ENTITLED UNITHOLDERS OF AXIS-REIT (“ENTITLED UNITHOLDERS”) ON AN ENTITLEMENT DATE TO BE DETERMINED AND ANNOUNCED LATER (“UNIT SPLIT ENTITLEMENT DATE”), INTO TWO (2) UNITS IN AXIS-REIT (“SUBDIVIDED UNITS”) (“PROPOSED UNIT SPLIT”); (II) PROPOSED AUTHORITY TO ALLOT AND ISSUE UP TO: (A) 219,103,216 NEW SUBDIVIDED UNITS IF THE PROPOSED UNIT SPLIT IS IMPLEMENTED, REPRESENTING UP TO 20% OF THE ISSUED FUND SIZE OF AXIS-REIT AFTER THE PROPOSED UNIT SPLIT OF 1,095,516,080 SUBDIVIDED UNITS; OR (B) 109,551,608 NEW EXISTING UNITS IF THE PROPOSED UNIT SPLIT IS NOT IMPLEMENTED, REPRESENTING UP TO 20% OF THE EXISTING ISSUED FUND SIZE OF AXIS-REIT OF 547,758,040 EXISTING UNITS, TO FACILITATE A PLACEMENT EXERCISE (“PROPOSED PLACEMENT”); (III) PROPOSED RENEWAL OF THE AUTHORITY TO ALLOT AND ISSUE UP TO 155,194,684 NEW SUBDIVIDED UNITS IF THE PROPOSED UNIT SPLIT IS IMPLEMENTED OR UP TO 77,597,342 NEW EXISTING UNITS IF THE PROPOSED UNIT SPLIT IS NOT IMPLEMENTED, FOR THE PURPOSE OF THE INCOME DISTRIBUTION REINVESTMENT PLAN THAT PROVIDES THE UNITHOLDERS OF AXIS-REIT (“UNITHOLDERS”) WITH THE OPTION TO ELECT TO REINVEST THEIR INCOME DISTRIBUTION IN NEW UNITS IN AXIS-REIT; AND (IV) PROPOSED INCREASE IN THE FUND SIZE OF AXIS-REIT
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | OTHERS |
| Description | AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR “FUND”) (I) PROPOSED UNIT SPLIT INVOLVING THE SUBDIVISION OF EVERY ONE (1) EXISTING UNIT IN AXIS-REIT (“EXISTING UNIT”) HELD BY THE ENTITLED UNITHOLDERS OF AXIS-REIT (“ENTITLED UNITHOLDERS”) ON AN ENTITLEMENT DATE TO BE DETERMINED AND ANNOUNCED LATER (“UNIT SPLIT ENTITLEMENT DATE”), INTO TWO (2) UNITS IN AXIS-REIT (“SUBDIVIDED UNITS”) (“PROPOSED UNIT SPLIT”); (II) PROPOSED AUTHORITY TO ALLOT AND ISSUE UP TO: (A) 219,103,216 NEW SUBDIVIDED UNITS IF THE PROPOSED UNIT SPLIT IS IMPLEMENTED, REPRESENTING UP TO 20% OF THE ISSUED FUND SIZE OF AXIS-REIT AFTER THE PROPOSED UNIT SPLIT OF 1,095,516,080 SUBDIVIDED UNITS; OR (B) 109,551,608 NEW EXISTING UNITS IF THE PROPOSED UNIT SPLIT IS NOT IMPLEMENTED, REPRESENTING UP TO 20% OF THE EXISTING ISSUED FUND SIZE OF AXIS-REIT OF 547,758,040 EXISTING UNITS, TO FACILITATE A PLACEMENT EXERCISE (“PROPOSED PLACEMENT”); (III) PROPOSED RENEWAL OF THE AUTHORITY TO ALLOT AND ISSUE UP TO 155,194,684 NEW SUBDIVIDED UNITS IF THE PROPOSED UNIT SPLIT IS IMPLEMENTED OR UP TO 77,597,342 NEW EXISTING UNITS IF THE PROPOSED UNIT SPLIT IS NOT IMPLEMENTED, FOR THE PURPOSE OF THE INCOME DISTRIBUTION REINVESTMENT PLAN THAT PROVIDES THE UNITHOLDERS OF AXIS-REIT (“UNITHOLDERS”) WITH THE OPTION TO ELECT TO REINVEST THEIR INCOME DISTRIBUTION IN NEW UNITS IN AXIS-REIT; AND (IV) PROPOSED INCREASE IN THE FUND SIZE OF AXIS-REIT |
(Unless otherwise stated, definitions used in this announcement shall carry the same meanings as defined in the announcement dated 3 March 2015). We refer to the announcement dated 3 March 2015 in relation to the Proposals. On behalf of the Board of Directors of the Manager, Maybank Investment Bank Berhad wishes to announce that an application to Bursa Securities in relation to the Proposed Unit Split has been submitted to Bursa Securities today. In addition, an application to the SC in relation to the following has also been submitted to the SC today: (i) the issuance and listing of, and quotation for 1,095,516,080 new Subdivided Units on the Main Market of Bursa Securities under the Proposed Unit Split; (ii) the Proposed Increase in Fund Size 1; (iii) the issuance and listing of, and quotation for up to 219,103,216 new Subdivided Units if the Proposed Unit Split is implemented or up to 109,551,608 new Existing Units if the Proposed Unit Split is not implemented (as the case may be), to be issued pursuant to the Proposed Authority to be implemented via the Proposed Placement, on the Main Market of Bursa Securities; and (iv) the Proposed Increase in Fund Size 2. This announcement is dated 4 March 2015. | |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 4 Mar 2015 |
| Category | General Announcement |
| Reference No | MI-150304-58369 |
