OTHERS AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT") (I) PROPOSED UNIT SPLIT; (II) PROPOSED INCREASE IN FUND SIZE 1; (III) PROPOSED AUTHORITY; (IV) PROPOSED RENEWAL OF IDRP AUTHORITY; AND (V) PROPOSED INCREASE IN FUND SIZE 2
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | OTHERS |
| Description | AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT")
(I) PROPOSED UNIT SPLIT;
(II) PROPOSED INCREASE IN FUND SIZE 1;
(III) PROPOSED AUTHORITY;
(IV) PROPOSED RENEWAL OF IDRP AUTHORITY; AND
(V) PROPOSED INCREASE IN FUND SIZE 2 |
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(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, 4 March 2015, 1 July 2015 and 10 July 2015 in relation to the Proposals. On behalf of the Board of Directors of the Axis REIT Managers Berhad, Maybank Investment Bank Berhad is pleased to announce that Bursa Securities had, vide its letter dated 24 July 2015, approved the following: (i) the Proposed Unit Split; and (ii) the listing of and quotation for: (a) up to 77,597,342 new Units to be issued pursuant to the Proposed Renewal of IDRP Authority, on the Main Market of Bursa Securities, if the Proposed Unit Split is implemented; (b) up to 1,522,000 new Units to be issued pursuant to the Payment of Management Fee Authority, on the Main Market of Bursa Securities, if the Proposed Unit Split is implemented; and (c) up to: (aa) 219,103,216 new Subdivided Units to be issued pursuant to the Proposed Authority, if the Proposed Unit Split is implemented, representing up to 20% of the issued fund size of Axis-REIT after the Proposed Unit Split 1,095,516,080 Subdivided Units; or (bb) 109,551,608 new Existing Units to be issued pursuant to the Proposed Authority, if the Proposed Unit Split is not implemented, representing up to 20% of the existing issued fund size of Axis-REIT 547,758,040 Existing Units, on the Main Market of Bursa Securities ("Proposals Approved by Bursa Securities"). The approval granted by Bursa Securities for the Proposals Approved by Bursa Securities is subject to, among others, the following conditions: (i) Axis-REIT and Maybank IB must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities ("Listing Requirements") pertaining to the implementation of the Proposals Approved by Bursa Securities; (ii) Axis-REIT and Maybank IB to inform Bursa Securities upon the completion of the Proposals Approved by Bursa Securities; (iii) Axis-REIT and Maybank IB to furnish a certified true copy of the resolution passed by the Unitholders at the Unitholders’ Meeting for the Proposals Approved by Bursa Securities; (iv) in respect of the Proposed Unit Split, Axis-REIT and Maybank IB are required to make the relevant announcements pursuant to Paragraph 13.10(2) of the Listing Requirements; and (v) Axis-REIT to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposals Approved by Bursa Securities are completed. This announcement is dated 24 July 2015. |
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Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 24 Jul 2015 |
| Category | General Announcement for PLC |
| Reference Number | GA1-24072015-00076 |
