NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT") PROPOSED PLACEMENT OF UP TO 250,750,952 NEW UNITS IN AXIS-REIT ("UNITS"), REPRESENTING UP TO 20% OF THE EXISTING APPROVED FUND SIZE OF AXIS-REIT OF 1,253,754,764 UNITS ("PROPOSED PLACEMENT")
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING |
| Description | AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT")
PROPOSED PLACEMENT OF UP TO 250,750,952 NEW UNITS IN AXIS-REIT ("UNITS"), REPRESENTING UP TO 20% OF THE EXISTING APPROVED FUND SIZE OF AXIS-REIT OF 1,253,754,764 UNITS ("PROPOSED PLACEMENT") |
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(Unless otherwise stated, definitions used in this announcement shall carry the same meanings as defined in the announcement dated 23 May 2017 in relation to the Proposed Placement). We refer to the announcements dated 23 May 2017 and 24 May 2017 in relation to the Proposed Placement. On behalf of the Board of Directors of the Manager, Maybank Investment Bank Berhad is pleased to announce that the SC had, through its letter dated 19 June 2017, approved the following: (i) the issuance of up to 250,750,952 new Units pursuant to Paragraph 14.03 of the REIT Guidelines; and (ii) the listing of and quotation for up to 250,750,952 new Units to be issued under the Proposed Placement on the Main Market of Bursa Securities. The revision in the approved fund size of Axis-REIT from 1,472,857,980 Units to 1,253,754,764 Units is due to the exclusion of 219,103,216 new Units that may be issued under a placement exercise of which the issuance and listing of and quotation for the said Units was previously approved by the SC via its letter dated 30 June 2015. The said placement exercise was not implemented by the Manager as the extension of time granted by Bursa Securities to implement the placement exercise lapsed on 24 January 2017. As a result of the above, the revised number of new Units that may be issued under the Proposed Placement is 250,750,952 new Units, which represents 20% of the approved fund size of Axis-REIT of 1,253,754,764 Units. The approval of the SC is subject to the following condition: (i) Maybank IB and the Manager to inform the SC of the actual number of Units issued, the date of the issuance of the Units and the date of the listing of and quotation for the new Units on the Main Market of Bursa Securities. This announcement is dated 20 June 2017. |
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Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 20 Jun 2017 |
| Category | General Announcement for PLC |
| Reference Number | GA1-20062017-00024 |
