Published : 09 Jan 2017
Announced : 09 Jan 2017
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 5 September 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 as at the date of this Announcement (being the last day of the Conditional Period), TDSB has yet to fulfil the condition precedent of the SPA which requires TDSB to obtain the issuance of the Subdivided Titles from Pentadbir Tanah Daerah, Pejabat Tanah Segamat with the terms of the express conditions and restrictions-in-interest no worse off than the Master Titles. Pursuant to the terms and conditions of the SPA (the salient terms of which were announced on 10 June 2016), TDSB is entitled to an automatic extension of six (6) months from the expiry of the Conditional Period or such other extended period as the parties may mutually agree and accordingly, the Conditional Period has been extended from 10 January 2017 up to 9 July 2017.
This Announcement is dated 9 January 2017.