OTHERS RECURRENT AND OPTIONAL INCOME DISTRIBUTION REINVESTMENT PLAN ("IDRP") APPLICABLE TO 2019 FINAL INCOME DISTRIBUTION
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | OTHERS |
| Description | RECURRENT AND OPTIONAL INCOME DISTRIBUTION REINVESTMENT PLAN ("IDRP") APPLICABLE TO 2019 FINAL INCOME DISTRIBUTION |
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On 20 January 2020, the Board of Directors of Axis REIT Managers Berhad (“Board”), the management company of Axis Real Estate Investment Trust (“Axis-REIT”), has announced the quarterly results for the financial period ended 31 December 2019 and proposed a final income distribution in respect of the period from 14 November 2019 to 31 December 2019 of 1.10 sen per unit (which is non-taxable in the hands of the unitholders) (“2019 Final Income Distribution”).
The Board has determined that the IDRP, which allows unitholders of Axis-REIT to reinvest their income distribution in new units, will apply to the 2019 Final Income Distribution, where the gross electable portion will be the entire 1.10 sen per unit (which is non-taxable in the hands of unitholders) (“Electable Portion”) which can be elected to be reinvested in new units.
The IDRP provides the unitholders the option to reinvest the entire Electable Portion or part of the Electable Portion based on the proportion as determined by the Board. In this regard, the Board has also determined as follows:
If the unitholders elect not to participate in the IDRP, then the Electable Portion will be paid wholly in cash.
The Board wishes to announce that the issue price of the new units to be issued pursuant to the IDRP applicable to the 2019 Final Income Distribution has been fixed today (“Price Fixing Date”) at RM1.67 per new unit, based on the 5-day volume weighted average market price (“VWAMP”) of the units up to and including 17 January 2020, being the last trading day immediately prior to the Price Fixing Date.
The issue price of RM1.67 per unit is fixed after adjusting for a discount of RM0.1074 which is approximately 6.04% discount to the 5-day VWAMP of RM1.7774 per unit.
The Board has also announced on even date that the book closure date pursuant to the 2019 Final Income Distribution and the IDRP has been fixed for 4 February 2020.
Barring any unforeseen circumstances, the new units arising from the exercise of IDRP will be listed on the Main Market of Bursa Malaysia Securities Berhad on 10 March 2020.
This announcement is dated 20 January 2020. |
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Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 20 Jan 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-20012020-00066 |
