(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 announcements dated 3 March 2015 and 4 March 2015 in relation to the Proposals.
On behalf of the Board of Directors of the Manager, Maybank Investment Bank Berhad is pleased to announce that the SC had, through its letter dated 30 June 2015, approved the following:
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(i)
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the issuance of:
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(a)
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547,758,040 new Units involving the subdivision of every one (1) Existing Unit held by the Entitled Unitholders into two (2) Subdivided Units (“Proposed Unit Split Issuance”);
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(b)
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up to 77,597,342 new Units for the purpose of the IDRP, if the Proposed Unit Split Issuance is implemented (“Proposed IDRP Issuance”);
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(c)
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up to 1,522,000 new Units for the purpose of payment of management fee to the Manager in the form of new Units, if the Proposed Unit Split Issuance is implemented (“Proposed Management Fee Issuance”);
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(d)
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up to:
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(aa)
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219,103,216 new Subdivided Units, representing up to 20% of the issued fund size of Axis-REIT after the Proposed Unit Split of 1,095,516,080 Subdivided Units, if the Proposed Unit Split Issuance is implemented; or
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(bb)
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109,551,608 new Existing Units, representing up to 20% of the existing issued fund size of Axis-REIT of 547,758,040 Existing Units, if the Proposed Unit Split Issuance is not implemented,
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(“Proposed Placement Issuance”); and
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(ii)
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the listing of and quotation for:
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(a)
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547,758,040 new Units to be issued under the Proposed Unit Split Issuance, on the Main Market of Bursa Securities;
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(b)
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up to 77,597,342 new Units to be issued under the Proposed IDRP Issuance, on the Main Market of Bursa Securities, if the Proposed Unit Split Issuance is implemented;
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(c)
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up to 1,522,000 new Units to be issued under the Proposed Management Fee Issuance, on the Main Market of Bursa Securities, if the Proposed Unit Split Issuance is implemented; and
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(d)
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up to:
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(aa)
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219,103,216 new Subdivided Units to be issued under the Proposed Placement Issuance, if the Proposed Unit Split Issuance is implemented; or
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(bb)
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109,551,608 new Existing Units to be issued under the Proposed Placement Issuance, if the Proposed Unit Split Issuance is not implemented,
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on the Main Market of Bursa Securities.
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The approval of the SC is subject to the following conditions:
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(i)
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For the Proposed Unit Split Issuance, Proposed IDRP Issuance, Proposed Management Fee Issuance and Proposed Placement Issuance, the Manager shall inform the SC of the actual number of Units issued, the date of the issuance of the Units and the date of the listing of and quotation for the new Units on the Main Market of Bursa Securities;
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(ii)
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For the Proposed Unit Split Issuance, the issuance of the Units pursuant to the Proposed Unit Split as well as the listing of and quotation for the new Units on the Main Market of Bursa Securities must be completed within six (6) months from the date of the SC’s approval. The approval is deemed to lapse if the Manager fails to do so within the stipulated time frame; and
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(iii)
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For the Proposed Management Fee Issuance, the Manager shall inform the SC the basis of arriving at the number of Units to be issued.
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This announcement is dated 1 July 2015.
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