OTHERS AMANAHRAYA REAL ESTATE INVESTMENT TRUST ("AMANAHRAYA REIT" OR "THE FUND") (I) PROPOSED CHANGE IN SHAREHOLDING STRUCTURE; AND (II) PROPOSED CHANGE OF NAME (COLLECTIVELY, REFERED TO AS THE "PROPOSALS")
| Type | Announcement |
| Subject | OTHERS |
| Description | AMANAHRAYA REAL ESTATE INVESTMENT TRUST ("AMANAHRAYA REIT" OR "THE FUND") (I) PROPOSED CHANGE IN SHAREHOLDING STRUCTURE; AND (II) PROPOSED CHANGE OF NAME (COLLECTIVELY, REFERED TO AS THE "PROPOSALS") |
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On behalf of the Board of Directors of AmanahRaya-REIT Managers Sdn Bhd ("ARRM"), the management company of AmanahRaya REIT, MIDF Amanah Investment Bank Berhad wishes to announce that the existing shareholder of ARRM, namely Amanah Raya Berhad ("ARB") had on 19 December 2016 entered into the following agreements with KDA Capital Malaysia Sdn Bhd ("KDA Capital"): (a) Share Sale Agreement between ARB and KDA Capital in respect of the proposed disposal by ARB of 735,000 ordinary shares of RM1.00 each in ARRM equivalent to 49% shareholdings in ARRM to KDA Capital for a cash consideration of RM5,145,000 only; (b) Shareholders Agreement between ARB and KDA Capital to regulate the relationship between ARB and KDA Capital as shareholders of ARRM; and (c) REIT Unit Sale Agreement between ARB and KDA Capital in respect of the proposed purchase of 85,982,979 REIT units representing 15% of AmanahRaya REIT's units from ARB by KDA Capital at RM1.00 per REIT unit equivalent to RM85,982,979 by way of Direct Business Transaction subject to the approval of Bursa Malaysia Securities Berhad. Please refer to the attached announcement for further information of the Proposals.
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