INCORPORATION OF VALUATION SURPLUS ARISING FROM COMPLETION OF ACQUISITION
AXIS REAL ESTATE INVESTMENT TRUST |
Type | Announcement | |||||||||||||||
Subject | INCORPORATION OF VALUATION SURPLUS ARISING FROM COMPLETION OF ACQUISITION | |||||||||||||||
Contents | Reference is made to the announcement made on 5 March 2010 on the completion of the proposed acquisition of Seberang Prai Logistic Warehouses 1 and 2. In accordance with Paragraph 9.19(46) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Board of Directors (“Board”) of Axis REIT Managers Berhad (“Manager”), the Manager of Axis Real Estate Investment Trust (“Axis-REIT”) wishes to announce that the Board has approved the incorporation of a total valuation surplus of RM1,758,771.00 (“Valuation”) into the accounts of Axis-REIT as at 5 March 2010 (please refer to the tabulation below for the Valuation details). The Valuation was carried out pursuant to Clause 10.02 of the Guidelines on Real Estates Investment Trusts of Securities Commission (“SC”) for the proposed acquisition of Seberang Prai Logistic Warehouses 1 and 2 and the approval from the SC on the Valuation is not required. Upon incorporating the total valuation surplus of RM1,758,771.00 into the accounts of Axis-REIT as at 5 March 2010, the net asset value of Axis-REIT will increase from RM1.8060 per unit (as at 31 March 2010) to RM1.8117 per unit. The valuation reports in relation to the above Valuation are available for inspection at the: (i) Registered office of the Manager at Suite 11.1A, Level 11, Menara Weld, 76, Jalan Raja Chulan, 50200 Kuala Lumpur; and (ii)Manager’s office at Suite 6.04 Penthouse, Wisma Academy, 4A Jalan 19/1, 46300 Petaling Jaya, Selangor during normal office hours from Monday to Friday (except public holidays) for a period of 3 months from the date of this announcement. This announcement is dated 20 April 2010. | |||||||||||||||
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Announcement Info
Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
Stock Name | AXREIT |
Date Announced | 20 Apr 2010 |
Category | General Announcement |
Reference No | CCS-100420-2470C |