AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT" OR "THE FUND") - PROPOSED ACQUISITION BY OSK TRUSTEES BERHAD (“TRUSTEE”), ON BEHALF OF AXIS-REIT OF A PARCEL OF LAND HELD UNDER H.S. (D) 77831, PLOT 19, TOWN OF SULTAN SULAIMAN, DISTRICT OF KLANG, STATE OF SELANGOR TOGETHER WITH ALL THE BUILDINGS ERECTED THEREON FOR A TOTAL CASH CONSIDERATION OF RM65.0 MILLION ("PROPOSED ACQUISITION"); - PROPOSED RENEWAL OF THE AUTHORITY TO ALLOT AND ISSUE UNITS OF UP TO 51,180,200 NEW UNITS (“SUBJECT UNITS”), REPRESENTING UP TO 20% OF THE EXISTING APPROVED FUND SIZE OF AXIS-REIT OF 255,901,000 UNITS PURSUANT TO SECTION 14.03 OF THE SECURITIES COMMISSION’S GUIDELINES ON REAL ESTATE INVESTMENT TRUSTS (“PROPOSED AUTHORITY”); AND - PROPOSED INCREASE IN THE EXISTING APPROVED FUND SIZE OF AXIS-REIT OF 255,901,000 UNITS UP TO A MAXIMUM OF 307,081,200 UNITS PURSUANT TO THE PROPOSED AUTHORITY (“PROPOSED INCREASE IN FUND SIZE”) (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT" OR "THE FUND") - PROPOSED ACQUISITION BY OSK TRUSTEES BERHAD (“TRUSTEE”), ON BEHALF OF AXIS-REIT OF A PARCEL OF LAND HELD UNDER H.S. (D) 77831, PLOT 19, TOWN OF SULTAN SULAIMAN, DISTRICT OF KLANG, STATE OF SELANGOR TOGETHER WITH ALL THE BUILDINGS ERECTED THEREON FOR A TOTAL CASH CONSIDERATION OF RM65.0 MILLION ("PROPOSED ACQUISITION"); - PROPOSED RENEWAL OF THE AUTHORITY TO ALLOT AND ISSUE UNITS OF UP TO 51,180,200 NEW UNITS (“SUBJECT UNITS”), REPRESENTING UP TO 20% OF THE EXISTING APPROVED FUND SIZE OF AXIS-REIT OF 255,901,000 UNITS PURSUANT TO SECTION 14.03 OF THE SECURITIES COMMISSION’S GUIDELINES ON REAL ESTATE INVESTMENT TRUSTS (“PROPOSED AUTHORITY”); AND - PROPOSED INCREASE IN THE EXISTING APPROVED FUND SIZE OF AXIS-REIT OF 255,901,000 UNITS UP TO A MAXIMUM OF 307,081,200 UNITS PURSUANT TO THE PROPOSED AUTHORITY (“PROPOSED INCREASE IN FUND SIZE”) (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”) |
| Contents | On behalf of the Board of Directors of Axis REIT Managers Berhad (“Axis REIT Managers” or the “Manager”) (“Board”), the management company of Axis-REIT, Maybank Investment Bank Berhad (“Maybank IB”) (formerly known as Aseambankers Malaysia Berhad), is pleased to announce that on 20 July 2009, the Trustee, on behalf of Axis-REIT has entered into a conditional sale and purchase agreement (“SPA”) with Maximum Icon Sdn Bhd (“MISB” or “the Vendor”) to acquire a parcel of land held under H.S.(D) 77831, Plot 19, Town of Sultan Sulaiman, District of Klang, State of Selangor measuring approximately 66,450 square metres together with all the buildings erected thereon (collectively “Axis Steel Centre”) for a total lump sum cash consideration of RM65.0 million. Apart from the above, Maybank IB on behalf of the Board, is also pleased to announce that the Manager proposes to undertake the Proposed Authority and Proposed Increase in Fund Size. Please refer to the attachments for further details of the announcement. This announcement is dated 20 July 2009. |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 20 Jul 2009 |
| Category | General Announcement |
| Reference No | MI-090720-66681 |
