OTHERS AmanahRaya Real Estate Investment Trust (“ARREIT”) - Disposal by CIMB Islamic Trustee Berhad(as Trustee of ARREIT) of Permanis Factory for a disposal consideration of RM31,000,000.00(“Disposal”)
| Type | Announcement |
| Subject | OTHERS |
| Description | AmanahRaya Real Estate Investment Trust (“ARREIT”) - Disposal by CIMB Islamic Trustee Berhad(as Trustee of ARREIT) of Permanis Factory for a disposal consideration of RM31,000,000.00(“Disposal”) |
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(Unless otherwise stated, the definitions and abbreviations used in this announcement shall carry the same meanings as defined in the announcement dated 3 May 2013). We refer to the announcement dated 3 May 2013 in relation to the Proposed Disposal. ARRM, the management company of ARREIT wishes to announce that the Conditions Precedent as stated in the SPA have been fulfilled. The Manager also wishes to announce that the Balance Disposal Consideration was paid to the Vendor's Solicitors on 5 December 2013 ("Completion Date"). Upon receipt of the Balance Disposal Consideration by the Vendor's Solicitors, the Lease Agreement and the Second Supplemental Lease Agreement will be terminated with effect from the Completion Date. The security deposits placed into the ITA by the Vendor pursuant to the Lease and the Existing Sub-Lease together with any interest earned thereon as at the Completion Date less any deductions by the Vendor for any arrears of the rental, utilities, quit rent and assessments of the Property will be refunded to the Purchaser no later than 14 days after the presentation of the Memorandum of Transfer at the land office. In light of the fact that the presentation of the Memorandum of Transfer at the land office was made on 16 December 2013, the Manager wishes to further announce that the Disposal has been duly completed on 30 December 2013. This announcement is dated 30 December 2013. |
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