Investor Info


Announcements

 

Multiple proposals

Published : 15 May 2012
Announced : 15 May 2012

Type
:
Announcement
Subject
:
MULTIPLE PROPOSALS

Description
:
HEKTAR REAL ESTATE INVESTMENT TRUST ("HEKTAR REIT" OR THE "REIT")
  • Proposed Acquisitions;
  • Proposed Rights Issue; and
  • Proposed Increase in Fund Size.

Announcement Details/Table Section :

We refer to the announcements dated 8 December 2011 and 20 January 2012 on the Proposals ("Announcements"). Unless otherwise stated, all definitions used in this announcement shall carry the same meanings as defined in the Announcements.

On behalf of the Board of Directors of Hektar Asset Management Sdn Bhd, ECM Libra Investment Bank Berhad is pleased to announce that the Securities Commission ("SC") had, via its letter dated 14 May 2012, approved, as proposed, the following in relation to the Proposed Acquisitions and Proposed Rights Issue:

(i) the increase in approved fund size of Hektar REIT by up to 93,853,773 new units ("the New Units") i.e. from 320,001,000 units to 413,854,773 units;

(ii) the listing of, and quotation for, the New Units on the Main Market of Bursa Malaysia Securities Berhad; and

(iii) the valuation for two properties to be acquired by Hektar REIT, namely, Landmark Central Shopping Centre and a portion of Central Square Shopping Centre.

The approval of the SC is subject to, inter alia, the following:

(i) the New Units shall be issued and listed on the Main Market of Bursa Securities within 6 months from the date of the SC's approval; and

(ii) a prospectus in relation to the Proposed Rights Issue must be issued and is to be registered by the SC.