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(Unless
stated otherwise, definitions used in this announcement shall carry the
same meaning as defined in the announcement dated 21 May 2010)
We refer to the announcement dated 21 May 2010.
The Board of Directors of AmanahRaya-REIT Managers Sdn Bhd, the
management company of ARREIT wishes to announce that TBWB had agreed
for an early termination of the lease of the Property pursuant to the
Lease Annexure dated 14 December 2006 originally entered into between
Amanah Raya Berhad ("ARB") and TBWB. The lease of the Property together
with the rights, title and interest, benefits and obligations under and
in the Lease Annexure were assigned and transferred from ARB to the
Trustee, the registered and beneficial owner of the Property via a
Novation Agreement dated 26 November 2007 (the Lease Annexure and
Novation Agreement shall collectively be referred to as "the
Agreements").
Following the termination of the lease of the Property, TBWB and the
Trustee will enter into a Deed of Mutual Termination to terminate the
Agreements which shall take effect on 14 June 2010 and thereafter
neither party shall, save nor except for the provisions contained in
the said Deed of Mutual Termination, have any claim against the other
under and pursuant to the said Agreements.
The Trustee has entered into a Lease Agreement with the new lessee,
Kontena Nasional Berhad on 21 May 2010 for the lease of the Property.
The Board of Directors of the Manager is of the opinion that the
execution of the Deed of Mutual Termination is in the best interests of
the ARREIT.
This announcement is dated 10 June 2010. |
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