PROPOSED ACQUISITION BY AXIS REAL ESTATE INVESTMENT TRUST (“Axis-REIT” OR THE “FUND”) OF TWO (2) PARCELS OF INDUSTRIAL LEASEHOLD LAND IDENTIFIED AS HSD 37861 FOR PT 486 AND HSD 37862 FOR PT 485 BOTH IN THE MUKIM 06 DISTRICT OF SEBERANG PERAI TENGAH, STATE OF PULAU PINANG MEASURING APPROXIMATELY 2.677 HECTARES EXPIRING ON 2 NOVEMBER 2053, BUILT UPON WITH INDUSTRIAL BUILDINGS AND ANCILLARY BUILDINGS (“THE PROPERTY”), FROM IDS LOGISTICS SERVICES (M) SDN BHD (CO. NO. 4593-D) FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM24.250 MILLION (“PROPOSED ACQUISITION OF THE PROPERTY”) AND LEASE BACK TO IDS LOGISTICS SERVICES (M) SDN BHD (“PROPOSED ACQUISITION AND LEASE BACK OF THE PROPERTY”)
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | PROPOSED ACQUISITION BY AXIS REAL ESTATE INVESTMENT TRUST (“Axis-REIT” OR THE “FUND”) OF TWO (2) PARCELS OF INDUSTRIAL LEASEHOLD LAND IDENTIFIED AS HSD 37861 FOR PT 486 AND HSD 37862 FOR PT 485 BOTH IN THE MUKIM 06 DISTRICT OF SEBERANG PERAI TENGAH, STATE OF PULAU PINANG MEASURING APPROXIMATELY 2.677 HECTARES EXPIRING ON 2 NOVEMBER 2053, BUILT UPON WITH INDUSTRIAL BUILDINGS AND ANCILLARY BUILDINGS (“THE PROPERTY”), FROM IDS LOGISTICS SERVICES (M) SDN BHD (CO. NO. 4593-D) FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM24.250 MILLION (“PROPOSED ACQUISITION OF THE PROPERTY”) AND LEASE BACK TO IDS LOGISTICS SERVICES (M) SDN BHD (“PROPOSED ACQUISITION AND LEASE BACK OF THE PROPERTY”) |
| Contents | The Board of Directors of Axis REIT Managers Berhad, the management company of Axis-REIT, wishes to announce that OSK Trustees Berhad, the trustee for Axis-REIT, has entered into a sale and purchase agreement dated 19 November 2009 in relation to the Proposed Acquisition and Lease Back of the Property on behalf of Axis-REIT. Please refer to the attachment below for the details of the announcement. |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 19 Nov 2009 |
| Category | General Announcement |
| Reference No | CCS-091119-1517E |
