(Unless otherwise defined, the abbreviations and definitions used in the announcement dated 28 September 2020 and the circular dated 25 November 2020 in relation to the Proposed Disposal shall apply herein)

Our Board wishes to announce that Dynasty Portfolio Sdn. Bhd. (“Dynasty Portfolio”) has on 22 December 2020 subscribed for new units in UOA REIT (“Placement Units”) at RM1.10 per Placement Unit (“Placement Issue Price”) for a total cash consideration of RM52.65 million (“Placement Subscription Consideration”) (“Placement Subscription”). The Placement Subscription is in pursuant to UOA REIT’s private placement to raise gross proceeds of up to RM280.0 million (“Private Placement”). Dynasty Portfolio is a person connected with Distinctive Acres, and both companies are indirect wholly-owned subsidiaries of UOA Development.

The Placement Subscription is deemed to be a related party transaction due to the interests of directors and major shareholders of UOA Development (a person who has an interest or interests in UOA Development of 10.0% or more of the total number of voting shares in UOA Development, or 5.0% or more of the total number of voting shares in UOA Development if such person is the largest shareholder of UOA Development) (“Major Shareholders”), and/or persons connected with them as set out in Section 9 of this announcement. 

Please refer to the attachment for further details of the Placement Subscription.

This announcement is dated 22 December 2020.

Please refer attachment below.