Bursa Announcements

Date : 26 August 2011

OTHERS PROPOSED ACQUISITION BY ATRIUM REIT OF ALL THAT PIECE OF FREEHOLD LAND HELD UNDER GERAN 75650 NO. LOT 46914, MUKIM DAMANSARA, DAERAH PETALING JAYA, NEGERI SELANGOR MEASURING 20,385 SQUARE METRES (219,422 SQUARE FEET) TOGETHER WITH A SINGLE-STOREY WAREHOUSE BUILDING WITH ANNEXED DOUBLE STOREY OFFICE BUILDINGS ERECTED THEREON (“PROPERTY”) FOR A CASH CONSIDERATION OF RM25,000,000.00 FROM GEMINI ZONE SDN BHD (COMPANY NO. 759267-W) (“PROPOSED ACQUISITION”)

ATRIUM REAL ESTATE INVESTMENT TRUST

TypeAnnouncement
SubjectOTHERS
DescriptionPROPOSED ACQUISITION BY ATRIUM REIT OF ALL THAT PIECE OF FREEHOLD LAND HELD UNDER GERAN 75650 NO. LOT 46914, MUKIM DAMANSARA, DAERAH PETALING JAYA, NEGERI SELANGOR MEASURING 20,385 SQUARE METRES (219,422 SQUARE FEET) TOGETHER WITH A SINGLE-STOREY WAREHOUSE BUILDING WITH ANNEXED DOUBLE STOREY OFFICE BUILDINGS ERECTED THEREON (“PROPERTY”) FOR A CASH CONSIDERATION OF RM25,000,000.00 FROM GEMINI ZONE SDN BHD (COMPANY NO. 759267-W) (“PROPOSED ACQUISITION”)
Further to our announcement dated 21 July 2011 on the Proposed Acquisition, the Board of Directors of Atrium REIT Managers Sdn. Bhd. (the “Manager”), the management company of Atrium REIT, wishes to announce that the Economic Planning Unit had, vide its letter dated 22 August 2011, (which was formally received on 25 August 2011), approved the Proposed Acquisition by BHLB Trustee Berhad (“Purchaser”), as trustee for Atrium REIT. Pursuant to this, the conditions precedent as contained in the Sale and Purchase Agreement dated 21 July 2011 (“SPA”) have been fulfilled on 25 August, 2011 (“Unconditional Date”)
In accordance to the SPA, the Purchaser will be given 3 months from the Unconditional Date (“Completion Period”) to complete the Proposed Acquisition. In the event that the Purchaser is unable to complete the Proposed Acquisition within the Completion Period, the Completion Period will be automatically extended by a period of 1 month (“Extended Completion Period”), subject to late payment interest of 8% p.a. calculated on a daily basis on the unpaid portion of the Balance Purchase Price calculated from the day following the expiry of the Completion Period until the date of payment within the Extended Completion Period.

This announcement is dated 26 August 2011.



Announcement Info

Company NameATRIUM REAL ESTATE INVESTMENT TRUST  
Stock Name ATRIUM    
Date Announced26 Aug 2011  
CategoryGeneral Announcement
Reference NoCK-110826-BC5BB

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