OTHERS Termination of Proposed Acquisition and Leaseback of the Property
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | OTHERS |
| Description | Termination of Proposed Acquisition and Leaseback of the Property |
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(Unless otherwise stated, the definitions used in this announcement shall carry the same meanings as defined in the announcement on the Proposed Acquisition and Leaseback of the Property dated 22 June 2015). We refer to the announcement dated 22 June 2015 in relation to the Proposed Acquisition and Leaseback of the Property comprising of an industrial facility erected on seven (7) parcels of leasehold land all located at Jalan Pelabuhan Utara, Bandar Sultan Suleiman, 42000 Pelabuhan Klang, Selangor from Hai San & Sons Sdn Bhd and Hai San Holdings Sdn Bhd, both wholly-owned subsidiaries of Haisan Resources Berhad, for a total lump sum cash consideration of RM46 million. The Board of Directors of Axis REIT Managers Berhad (“ARMB” or “the Manager”), the management company of Axis-REIT, wishes to announce that the Manager, for and on behalf of RHB Trustees Berhad, the trustee for Axis-REIT (“Purchaser”), has terminated the aforesaid transaction given that both parties were unable to mutually agree on the terms of the proposed sale and purchase agreement within the timeline contemplated by both parties under the letter of offer dated 12 June 2015. This announcement is dated 9 November 2015. |
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Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 09 Nov 2015 |
| Category | General Announcement for PLC |
| Reference Number | GA1-09112015-00033 |
