MULTIPLE PROPOSALS AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR “FUND”) (I) PROPOSED ACQUISITIONS BY OSK TRUSTEES BERHAD, ON BEHALF OF AXIS-REIT, OF 2 PROPERTIES LOCATED IN PETALING JAYA, SELANGOR DARUL EHSAN FOR A TOTAL CASH CONSIDERATION OF RM85,000,000; (II) PROPOSED AUTHORITY TO ALLOT AND ISSUE UP TO 90,762,819 NEW UNITS IN AXIS-REIT (“UNITS”), REPRESENTING UP TO 20% OF THE EXISTING ISSUED FUND SIZE OF AXIS-REIT OF 453,814,096 UNITS; (III) PROPOSED AUTHORITY TO ALLOT AND ISSUE UP TO 2,000,000 NEW UNITS FOR THE PURPOSE OF THE PAYMENT OF MANAGEMENT FEE TO AXIS REIT MANAGERS BERHAD IN THE FORM OF NEW UNITS; AND (IV) PROPOSED RENEWAL OF AUTHORITY TO ALLOT AND ISSUE UP TO 87,483,344 NEW UNITS FOR THE PURPOSE OF THE INCOME DISTRIBUTION REINVESTMENT PLAN THAT PROVIDES THE UNITHOLDERS OF AXIS-REIT THE OPTION TO REINVEST THEIR INCOME DISTRIBUTION IN NEW UNITS
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR “FUND”) (I) PROPOSED ACQUISITIONS BY OSK TRUSTEES BERHAD, ON BEHALF OF AXIS-REIT, OF 2 PROPERTIES LOCATED IN PETALING JAYA, SELANGOR DARUL EHSAN FOR A TOTAL CASH CONSIDERATION OF RM85,000,000; (II) PROPOSED AUTHORITY TO ALLOT AND ISSUE UP TO 90,762,819 NEW UNITS IN AXIS-REIT (“UNITS”), REPRESENTING UP TO 20% OF THE EXISTING ISSUED FUND SIZE OF AXIS-REIT OF 453,814,096 UNITS; (III) PROPOSED AUTHORITY TO ALLOT AND ISSUE UP TO 2,000,000 NEW UNITS FOR THE PURPOSE OF THE PAYMENT OF MANAGEMENT FEE TO AXIS REIT MANAGERS BERHAD IN THE FORM OF NEW UNITS; AND (IV) PROPOSED RENEWAL OF AUTHORITY TO ALLOT AND ISSUE UP TO 87,483,344 NEW UNITS FOR THE PURPOSE OF THE INCOME DISTRIBUTION REINVESTMENT PLAN THAT PROVIDES THE UNITHOLDERS OF AXIS-REIT THE OPTION TO REINVEST THEIR INCOME DISTRIBUTION IN NEW UNITS |
On behalf of the Board of Directors of Axis REIT Managers Berhad, the management company of Axis-REIT ("Manager"), Maybank Investment Bank Berhad wishes to announce that the Manager proposes to undertake the abovementioned proposals. | |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 14 Jun 2012 |
| Category | General Announcement |
| Reference No | MI-120614-62977 |
