NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT") (I) 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 ("PLACEMENT"); AND (II) CLARIFICATION ON NEWS ARTICLES
| 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")
(I) 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 ("PLACEMENT"); AND
(II) CLARIFICATION ON NEWS ARTICLES |
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We refer to the announcements dated 23 May 2017, 24 May 2017, 20 June 2017, 12 July 2017, 31 July 2017, 10 November 2017, 24 November 2017 and 28 November 2017 in relation to the Placement. On behalf of Axis REIT Managers Berhad (“Manager”), being the management company of Axis-REIT, Maybank Investment Bank Berhad (“Maybank IB”) wishes to clarify certain statements appearing in news articles last week suggesting that Axis-REIT’s 2nd placement tranche under the Placement has been deferred to end 2018. The Placement which was announced on 23 May 2017 by Maybank IB, was approved by the Securities Commission Malaysia and Bursa Malaysia Securities Berhad (“Bursa Securities”) on 19 June 2017 and 28 July 2017 respectively. The 1st placement tranche under the Placement was completed with the listing of 125 million new Units on the Main Market of Bursa Securities on 28 November 2017. Given the completion of the 1st placement tranche which resulted in gearing levels of 29% after the use of the proceeds raised from the 1st placement tranche and 33% as at 31 December 2017, Axis-REIT has no intention of issuing the remaining tranche of the Placement and therefore, the Placement is deemed completed on the day ending 6 months from the date of Bursa Securities’ approval for the listing of the new Units pursuant to the Placement, being the deadline for the implementation of the Placement, since no extension of time was sought from Bursa Securities. This announcement is dated 27 March 2018. |
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Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 27 Mar 2018 |
| Category | General Announcement for PLC |
| Reference Number | GA1-27032018-00089 |
