|ATRIUM REAL ESTATE INVESTMENT TRUST|
ATRIUM REAL ESTATE INVESTMENT TRUST ("ATRIUM REIT") (I) PROPOSED ACQUISITION 1; (II) PROPOSED ACQUISITION 2; AND (III) PROPOSED RIGHTS ISSUE (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Atrium REITís circular to unitholders dated 17 May 2019 and the abridged prospectus dated 30 August 2019 in relation to the Proposals.
We refer to Atrium REITís previous announcements in relation to the Proposed Acquisitions.
On behalf of the Board of the Manager, UOBKH wishes to announce that the remaining balance purchase consideration under SPA 2 has been paid in full following the successful completion of the Rights Issue and the drawdown of the MTN Programme today. This marks the completion of Proposed Acquisition 2 (ďCompletionĒ).
Following the Completion, the Trustee, as the trustee of Atrium REIT, will be the beneficial owner of the lease in respect of Property 2 with the 15-year leaseback arrangement with Lumileds commencing with immediate effect. Upon registration of the Memorandum of Transfer in favour of the Trustee (as trustee of Atrium REIT), the Trustee will be the registered lessee of Property 2. The Trustee, on behalf of Atrium REIT, will then proceed to exercise the Lease Renewal Option to extend the tenure of the Lease for an additional period of at least 10 years from 10 February 2041. The Manager will make the relevant announcement in relation to the extension of the Lease upon receipt of the relevant clearance/approval from PDC.
In respect of Proposed Acquisition 1, the Trustee, on behalf of Atrium REIT, will exercise the Call Option to purchase Property 1 in the event Lumileds obtains the CCC/CFO for the property. As at this juncture, Lumileds is still liaising with the relevant authority and is hopeful to obtain the CCC/CFO for Property 1 prior to the expiry of the Option Agreement on 2 December 2019.
This announcement is dated 7 October 2019.
|Company Name||ATRIUM REAL ESTATE INVESTMENT TRUST|
|Date Announced||07 Oct 2019|
|Category||General Announcement for PLC|