ALSREIT

0.440

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MULTIPLE PROPOSALS AL-SALAM REAL ESTATE INVESTMENT TRUST ("AL-SALAM REIT" OR THE "FUND") PROPOSED ACQUISITION OF 22 PROPERTIES LOCATED ACROSS MALAYSIA BY AMANAHRAYA TRUSTEES BERHAD, AS THE TRUSTEE OF AL-SALAM REIT, FOR A PURCHASE CONSIDERATION TO BE SATISFIED ENTIRELY IN CASH ("PROPOSED ACQUISITIONS")

AL-SALAM REAL ESTATE INVESTMENT TRUST

Type Announcement
Subject MULTIPLE PROPOSALS
Description
AL-SALAM REAL ESTATE INVESTMENT TRUST ("AL-SALAM REIT" OR THE "FUND")

PROPOSED ACQUISITION OF 22 PROPERTIES LOCATED ACROSS MALAYSIA BY AMANAHRAYA TRUSTEES BERHAD, AS THE TRUSTEE OF AL-SALAM REIT, FOR A PURCHASE CONSIDERATION TO BE SATISFIED ENTIRELY IN CASH ("PROPOSED ACQUISITIONS")

We refer to the announcements dated 4 December 2017, 2 February 2018, 27 March 2018, 2 April 2018, 6 April 2018, 2 May 2018, 7 May 2018, 6 June 2018, 21 August 2018, 3 September 2018, 12 September 2018, 18 September 2018, 20 September 2018, 25 September 2018, 27 February 2019, 20 March 2019, 2 April 2019, 28 May 2019, 28 August 2019, 10 September 2019, 28 February 2020, 30 June 2020 and 10 September 2020 (“Announcements”), and the circular to the unitholders dated 8 May 2018 in relation to the Proposed Acquisitions (“Circular”). Unless otherwise stated, the definitions used in this announcement shall have the same meanings as set out in the Circular and the Announcements.

 

On behalf of the Board, Affin Hwang IB is pleased to announce that the acquisitions of the 5 properties under SPA 3 and the Supplemental Agreement have been completed following the payment of the balance purchase consideration on 17 September 2020.

 

Following the completion of SPA 3 and the Supplemental Agreement, a lease agreement for the 5 properties has also been entered into on 17 September 2020. The salient terms of the lease agreement are set out in Section 2.5 of Part A of the Circular.

 

The lease agreement is available for inspection by the unitholders at the registered office of the Manager at Level 16, Menara KOMTAR, Johor Bahru City Centre, 80000 Johor Bahru, Johor during normal business hours (except public holidays) for a period of 3 months from the date of this announcement.

 

This announcement is dated 18 September 2020.






Announcement Info

Company Name AL-SALAM REAL ESTATE INVESTMENT TRUST
Stock Name ALSREIT
Date Announced 18 Sep 2020
Category General Announcement for PLC
Reference Number GA1-17082020-00069