PROPOSED ESTABLISHMENT AND LISTING OF A REAL ESTATE INVESTMENT TRUST (AME REIT) ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD (BURSA SECURITIES) ("PROPOSED REIT ESTABLISHMENT AND LISTING")
AME ELITE CONSORTIUM BERHAD |
Type | Reply to Query |
Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-29112021-00001 |
Subject | PROPOSED ESTABLISHMENT AND LISTING OF A REAL ESTATE INVESTMENT TRUST (AME REIT) ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD (BURSA SECURITIES) ("PROPOSED REIT ESTABLISHMENT AND LISTING") |
Description | AME ELITE CONSORTIUM BERHAD - REPLY TO QUERY IN RELATION TO THE PROPOSED ESTABLISHMENT AND LISTING OF A REAL ESTATE INVESTMENT TRUST (AME REIT) ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD (BURSA SECURITIES) ("PROPOSED REIT ESTABLISHMENT AND LISTING") |
Query Letter Contents | We refer to your Company's announcement dated 25 November 2021, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Malaysia Securities Berhad with the following additional information for public release:-
1. We note that the proposed establishment and listing of AME REIT on the Main Market of Bursa Securities entails, among others, the disposal/transfer of 34 properties by AME Elite Consortium Berhad (“AME”) to AME REIT for a total consideration of RM557 million (collectively defined as “Proposed Disposal/Transfer”), proposed offering of AME REIT units by AME to its shareholders, eligible employees and directors of AME and the Malaysian public (“Proposed Offering”) and proposed admission of AME REIT to the Official List of Bursa Securities (“Proposed Listing”).
In this regard, you have represented under Section 7(iii) of your announcement that the Proposed Listing is subject to and conditional upon, among others, approval of the shareholders of AME at an EGM to be convened for the Proposed Offering and the Proposed Listing.
Given that the Proposed Disposal/Transfer forms a core subject matter and is an integral part of the Proposed Listing of AME REIT, please disclose the calculation of percentage ratios of the Proposed Disposal/Transfer (instead of the percentage ratio of the Proposed Offering) in accordance with Paragraph 10.02(g) of the Main Market Listing Requirements (“LR”) and provide confirmation or clarification on whether the Proposed Disposal/Transfer requires the approval of AME’s shareholders.
AME is reminded to observe the principles and spirit of the LR and ensure full compliance with Chapter 10 and Paragraph 8.24 of the LR as a whole, in relation to the Proposed Listing of AME REIT, so as to enable AME’s shareholders make an informed investment decision.
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully
Listing Regulation
cc:- Market Surveillance, Securities Commission |
Please refer to the attached file for further details. |
Please refer attachment below.
Announcement Info
Company Name | AME ELITE CONSORTIUM BERHAD |
Stock Name | AME |
Date Announced | 30 Nov 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-30112021-00071 |