TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION OF A PARCEL OF VACANT LAND ADJACENT TO SUNWAY CARNIVAL SHOPPING MALL LOCATED IN SEBERANG JAYA, PENANG ("PROPOSED ACQUISITION")
|SUNWAY REAL ESTATE INVESTMENT TRUST|
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
PROPOSED ACQUISITION OF A PARCEL OF VACANT LAND ADJACENT TO SUNWAY CARNIVAL SHOPPING MALL LOCATED IN SEBERANG JAYA, PENANG ("PROPOSED ACQUISITION")
(Unless otherwise defined, the abbreviations and definitions used throughout this announcement are the same as those previously defined in the earlier announcement.)
Reference is made to the Company’s announcement dated 20 June 2016 in relation to the Proposed Acquisition.
On behalf of the Board of Directors of Sunway REIT Management Sdn Bhd, the manager of SunREIT, Kenanga Investment Bank Berhad is pleased to announce that the Securities Commission (“SC”) had vide its letter dated 13 July 2016, resolved to approve the application submitted on 29 June 2016 for the proposed exemption from Paragraph 8.44(b) and (c) of the REIT Guidelines (“Exemption”).
The approval granted by the SC for the Exemption is subject to the condition that SunREIT continues to hold the expanded Sunway Carnival for at least 2 years from the date of completion of the construction of the extension to the existing mall.
This Announcement is dated 13 July 2016.
|Company Name||SUNWAY REAL ESTATE INVESTMENT TRUST|
|Date Announced||13 Jul 2016|
|Category||General Announcement for PLC|