OTHERS AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT") AUTHORITY TO ALLOT AND ISSUE UP TO 219,103,216 NEW UNITS IN AXIS-REIT ("UNITS"), REPRESENTING UP TO 20% OF THE EXISTING ISSUED FUND SIZE OF AXIS-REIT OF 1,095,516,080 UNITS, TO FACILITATE A PLACEMENT EXERCISE ("AUTHORITY")
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | OTHERS |
| Description | AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT")
AUTHORITY TO ALLOT AND ISSUE UP TO 219,103,216 NEW UNITS IN AXIS-REIT ("UNITS"), REPRESENTING UP TO 20% OF THE EXISTING ISSUED FUND SIZE OF AXIS-REIT OF 1,095,516,080 UNITS, TO FACILITATE A PLACEMENT EXERCISE ("AUTHORITY") |
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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 in relation to, among others, the Authority, the latest of which is dated 21 August 2015. On behalf of the Board of Directors of the Manager, Maybank Investment Bank Berhad wishes to announce that the Net Proceeds will be used to repay Axis-REIT’s existing bank financing (including finance cost payable) which were taken up to finance the acquisitions of Axis Shah Alam DC3, Axis MRO Hub and Axis Shah Alam DC2, and acquisitions of other properties that were completed more than one (1) year ago. The acquisitions of Axis Shah Alam DC3 and Axis MRO Hub were completed on 18 December 2014 whilst the acquisition of Axis Shah Alam DC2 was completed on 31 March 2015. The details of Axis Shah Alam DC3, Axis MRO Hub and Axis Shah Alam DC2 are enclosed in the attachment herein. Clause 10.12(b) of the REIT Guidelines stipulates that where a real estate (including those held by single-purpose companies) is the subject of an acquisition financed, or refinanced within one (1) year, through the issuance of new units, the value of the real estate requires SC’s approval. In view that the Net Proceeds will be used to repay Axis-REIT’s existing bank financing (including finance cost payable) which were taken up to finance, among others, the acquisitions of Axis Shah Alam DC3, Axis MRO Hub and Axis Shah Alam DC2, the submission of the valuation reports in respect of the valuation of Axis Shah Alam DC3, Axis MRO Hub and Axis Shah Alam DC2 and an application for the approval of the values of Axis Shah Alam DC3, Axis MRO Hub and Axis Shah Alam DC2, will be made to the SC in due course. This announcement is dated 25 September 2015. |
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Please refer attachment below.
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 25 Sep 2015 |
| Category | General Announcement for PLC |
| Reference Number | GA1-25092015-00036 |
