TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION AND LEASEBACK OF PROPERTY SITUATED IN KAWASAN INDUSTRI SG. CHOH, RAWANG, NEGERI SELANGOR DARUL EHSAN
|AXIS REAL ESTATE INVESTMENT TRUST|
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
PROPOSED ACQUISITION AND LEASEBACK OF PROPERTY SITUATED IN KAWASAN INDUSTRI SG. CHOH, RAWANG, NEGERI SELANGOR DARUL EHSAN
Reference is made to the announcement relating to the following proposed acquisition of property dated 1 August 2016.
The Board of Directors of Axis REIT Managers Berhad, the management company of Axis Real Estate Investment Trust ("Axis-REIT"), wishes to announce that RHB Trustees Berhad, the trustee for Axis-REIT, on behalf of Axis-REIT, has completed the proposed acquisition of a parcel of industrial land together with all those industrial buildings and structures erected thereon within PT 20449 (Lot 795 & 796) Jalan Monorail, Kawasan Industri Sg. Choh, Sg. Choh, 48000 Selangor held under freehold title No. H.S. (D) 51916 PT No. 20449 in Mukim of Serendah, District of Ulu Selangor, Negeri Selangor Darul Ehsan ("Property") from Scomi Coach Sdn. Bhd. (Co. No. 205858-U) for a total lump sum cash consideration of RM42.0 Million ("Proposed Acquisition of the Property").
The Proposed Acquisition of the Property has been completed today in accordance with the terms and conditions of the Sale and Purchase Agreement dated 1 August 2016 (“SPA”). The Property shall subsequently be leased back to Scomi Engineering Berhad in the manner as stipulated in the SPA.
This announcement is dated 15 November 2016.
|Company Name||AXIS REAL ESTATE INVESTMENT TRUST|
|Date Announced||15 Nov 2016|
|Category||General Announcement for PLC|