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General Announcement
31/03/2008
AmFIRST REAL ESTATE INVESTMENT TRUST (AmFIRST REIT) PROPOSED ACQUISITION BY MAYBAN TRUSTEES BERHAD ("TRUSTEE"), ACTING AS TRUSTEE FOR AND ON BEHALF OF AmFIRST REIT, FROM MEDA DEVELOPMENT SDN BHD (MEDA OR VENDOR), A WHOLLY-OWNED SUBSIDIARY OF MEDA INC. BERHAD (MEDA INC.), OF ALL PROPERTY UNITS OWNED BY THE VENDOR THAT ARE LOCATED WITHIN THE MIXED COMMERCIAL COMPLEX KNOWN AS THE SUMMIT SUBANG USJ (PROPOSED ACQUISITION)
AMFIRST REAL ESTATE INVESTMENT TRUST
Type
Announcement
Subject
AmFIRST REAL ESTATE INVESTMENT TRUST (AmFIRST REIT)
PROPOSED ACQUISITION BY MAYBAN TRUSTEES BERHAD ("TRUSTEE"), ACTING AS TRUSTEE FOR AND ON BEHALF OF AmFIRST REIT, FROM MEDA DEVELOPMENT SDN BHD (MEDA OR VENDOR), A WHOLLY-OWNED SUBSIDIARY OF MEDA INC. BERHAD (MEDA INC.), OF ALL PROPERTY UNITS OWNED BY THE VENDOR THAT ARE LOCATED WITHIN THE MIXED COMMERCIAL COMPLEX KNOWN AS THE SUMMIT SUBANG USJ (PROPOSED ACQUISITION)
Contents
Reference is made to the announcements dated 1 August 2007, 31 October 2007, 30 November 2007, 5 December 2007 and 21 February 2008 in relation to the Proposed Acquisition.
On behalf of the Board of Directors of Am ARA REIT Managers Sdn Bhd, the manager of AmFIRST REIT, AmInvestment Bank Berhad is pleased to announce that the Proposed Acquisition has been completed today, 31 March 2008.
With the completion of acquisition of the aforesaid, AMFIRST REIT is diversifying from a pure office space REIT to include retail space, in line with its objective of focusing in commercial properties and its total assets size now stands at RM835 million.
This announcement is dated 31 March 2008.
Announcement Info
Company Name
AMFIRST REAL ESTATE INVESTMENT TRUST
Stock Name
AMFIRST
Date Announced
31 Mar 2008
Category
General Announcement
Reference No
MM-080327-8934
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OTHERS AmFIRST REAL ESTATE INVESTMENT TRUST (“AmFIRST REIT” OR THE “FUND”) (I) PROPOSED AMENDMENT TO THE RELEVANT CLAUSE IN THE DEED DATED 28 SEPTEMBER 2006 AS AMENDED BY THE FIRST SUPPLEMENTED, REVISED AND RESTATED DEED DATED 15 DECEMBER 2006 ENTERED INTO BETWEEN Am ARA REIT MANAGERS SDN BHD (“Am ARA” OR THE “MANAGER”) AND MAYBANK TRUSTEES BERHAD CONSTITUTING AmFIRST REIT (“FIRST RESTATED DEED”) TO ALLOW THE MANAGER TO BE PAID EITHER IN THE FORM OF NEW UNITS IN AmFIRST REIT, CASH OR A COMBINATION THEREOF FOR ITS BASE FEE AND PERFORMANCE FEE; AND (II) PROPOSED AMENDMENTS TO CERTAIN CLAUSES IN THE FIRST RESTATED DEED TO BE ALIGNED WITH THE APPLICABLE LAWS, REGULATIONS AND GUIDELINES GOVERNING THE REAL ESTATE INVESTMENT TRUSTS AND TO PROVIDE FOR AMENDMENTS WHICH ARE ADMINISTRATIVE AND/OR TECHNICAL IN NATURE (COLLECTIVELY REFERRED TO AS THE “PROPOSED AMENDMENTS”)
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