Published : 05 Sep 2016
Announced : 05 Sep 2016
HEKTAR REAL ESTATE INVESTMENT TRUST ("HEKTAR REIT")
(I) PROPOSED ACQUISITION;
(II) PROPOSED RIGHTS ISSUE;
(III) PROPOSED ISSUANCE TO MANAGER;
(IV) PROPOSED AUTHORITY; AND
(V) PROPOSED INCREASE IN FUND SIZE
(COLLECTIVELY REFERRED TO AS "PROPOSALS")
(Reference is made to Hektar REIT’s announcements dated 10 June 2016 and 14 July 2016 in relation to the Proposals (“Announcements”). Unless otherwise stated, all abbreviations used herein shall have the same meanings as those used in the Announcements.)
On behalf of the Board, Maybank IB wishes to announce that the SC has, vide its letter dated 2 September 2016, which was received on 5 September 2016, approved the following:
(i) issuance of:
(a) up to 360,000 new Units to the Manager as part of the Acquisition Fee for the Proposed Acquisition; and
(b) up to 13,500,000 new Units for part payment of the management fee to the Manager in the form of new Units; and
(ii) listing of and quotation for up to 13,860,000 new Units on the Main Market of Bursa Securities.
The approval of the SC is subject to the SC being informed of the actual number of new Units issued, the date of issuance of the new Units and the date of the listing of and quotation for the new Units on the Main Market of Bursa Securities.
For avoidance of doubt, the approval of the SC is not required for the valuation of the 1Segamat Property, the issuance of the Rights Units, the listing of and quotation for the Rights Units on the Main Market of Bursa Securities and the Proposed Increase in Fund Size.