OTHERS AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR “FUND”) PROPOSED AMENDMENTS TO THE DEED DATED 3 APRIL 2009 CONSTITUTING AXIS-REIT
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement | |||||||||
| Subject | OTHERS | |||||||||
| Description | AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR “FUND”) PROPOSED AMENDMENTS TO THE DEED DATED 3 APRIL 2009 CONSTITUTING AXIS-REIT | |||||||||
(Unless otherwise stated, definitions used in this announcement shall carry the same meanings as defined in the announcement dated 28 April 2011 in relation to the abovementioned proposal).
We refer to the announcement dated 28 April 2011 in relation to the abovementioned proposal. On behalf of the Board of Directors of Axis REIT Managers Berhad, the management company of Axis-REIT (“Manager”), Maybank Investment Bank Berhad wishes to announce that the Manager proposes to undertake further revisions to the Proposed Amendments involving the revision to the definition of Net Income and an additional amendment to the existing Clause 17.1(a) of the Deed, as follows:
The definitions used in the Deed shall be applied throughout the supplemental deed and this announcement. To amend the
definition of “Net Income” in the Deed to accommodate the proposed amendment of
Clause 17.1(b) as follows: “interim unaudited or annual audited
net income, after taxation of the REIT as determined by the Management Company
in accordance with generally accepted accounting practices in Malaysia.” The existing clause 17.1(a) is as follows: To amend Clause 17.1(a) as follows: “The Management Company shall, with the approval of
the Trustee on or before the Distribution Date for each Distribution Period,
distribute all (or such lower percentage as determined by the Management
Company in its absolute discretion) of the Distributable Income of the REIT. The
announcement of such Distributable Income to be distributed shall be
made based on the Net Income, subject to adjustments detailed in Clause 17.1(b)
below. The payment of Distributable Income to be distributed for the final or
annual Distributable Income shall be based on the audited Net Income, subject
to adjustments detailed in Clause 17.1(b) below.” This announcement is dated 2 June 2011. | ||||||||||
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 2 Jun 2011 |
| Category | General Announcement |
| Reference No | MI-110602-60247 |
