Bursa Announcements

(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the announcement dated 26 February 2019 in relation to the proposed change of trustee of ARREIT.)

 

Reference is made to the announcement dated 26 February 2019 in relation to the proposed change of trustee of ARREIT.

 

On behalf of the Board of the Manager, Kenanga Investment Bank Berhad ("Kenanga IB"), wishes to announce that the Manager has, subject to the relevant approval(s) being obtained, accepted the proposal of Pacific Trustee Berhad to act as the new trustee of ARREIT in place of CITB which has notified the Manager of its intention to retire vide its letter dated 25 January 2019. ("Proposed Change of Trustee")

 

Having sought and obtained independent legal advice, the Manager and CITB are of the opinion that the Proposed Change of Trustee will not materially prejudice the interests of the unit holders of ARREIT.

 

Pursuant to the above, a notice dated 22 March 2019 to all unit holders of ARREIT ("Notice") has been despatched today to notify the unit holders of ARREIT the following:

 

(i) the Proposed Change of Trustee; and

(ii) their rights under Section 305 of the Capital Markets Services Act 2007 as a unit holder of ARREIT to direct the Manager to call for a meeting of unit holder of ARREIT ("Unit Holders' Meeting) to consider and if deemed fit, approve the Proposed Change of Trustee.

 

Any unit holder of ARREIT who wish to exercise his/her/their right to direct the Manager to call for a Unit Holders' Meeting must revert in writing by 5.00 p.m. of 11 April 2019 which is within 21 days from the date of the Notice.

 

Further information on the Notice is disclosed in the attachment.

 

This announcement is dated 22 March 2019.