| Subject |
CIRCULAR TO UNITHOLDERS IN RELATION TO THE
I. PROPOSED ACQUISITION BY PACIFIC TRUSTEES BERHAD ("TRUSTEE"), ACTING SOLELY IN ITS CAPACITY AS THE TRUSTEE FOR AND ON BEHALF OF KIP REAL ESTATE INVESTMENT TRUST ("KIP REIT") OF A THREE (3) STOREY SHOPPING MALL TOGETHER WITH A BASEMENT CARPARK KNOWN AS SETAPAK CENTRAL MALL LOCATED AT NO. 67, JALAN TAMAN IBU KOTA, 53300 SETAPAK, KUALA LUMPUR, HELD UNDER STRATA TITLE NO. PAJAKAN NEGERI 46795/M1/B1/1 TOGETHER WITH FORTY-SEVEN (47) ACCESSORY PARCELS NOS. A1, A2, A3, A4, A5, A6, A7, A8, A9, A10, A11, A12, A13, A14, A15, A16, A17, A18, A19, A20, A21, A22, A23, A24, A25, A26, A27, A28, A29, A30, A31, A32, A33, A34, A35, A36, A37, A38, A39, A40, A41, A42, A43, A44, A45, A46, A286, LOT 30119, MUKIM OF SETAPAK, DISTRICT OF KUALA LUMPUR, FEDERAL TERRITORY OF KUALA LUMPUR ("SUBJECT PROPERTY"), FROM FESTIVA MALL SDN BHD, FOR A CASH CONSIDERATION OF RM435 MILLION ("PROPOSED ACQUISITION")
II. PROPOSED PLACEMENT OF UP TO 220,000,000 NEW UNITS IN KIP REIT, REPRESENTING APPROXIMATELY 22.95% OF THE EXISTING ISSUED UNITS OF KIP REIT, AT AN ISSUE PRICE TO BE DETERMINED LATER ("PROPOSED PLACEMENT"), TO THE FOLLOWING PARTIES:-
(A) ALLOCATION OF UP TO 30,000,000 UNITS TO DATO' ONG CHOO MENG;
(B) ALLOCATION OF UP TO 10,000,000 UNITS TO DATO' ONG KOOK LIONG; AND
(C) ALLOCATION OF UP TO 180,000,000 UNITS TO INDEPENDENT INVESTORS TO BE IDENTIFIED AT A LATER DATE, WHERE SUCH INVESTORS SHALL FALL WITHIN SCHEDULES 6 AND 7 OF THE CAPITAL MARKETS AND SERVICES ACT 2007 |