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Gurney Plaza Extension Acquisition - Proposed Acquisition of Gurney Plaza Extension for a Purchase Consideration of RM215,000,00 and Proposal to Undertake the Proposed Placement, Proposed Placement to CMMT Investment Limited, Proposed Authority and Proposed Increase in Fund Size

BackNov 12, 2010
Date Announced
:
12/11/2010  
Type
:
Announcement
Subject
:
CAPITAMALLS MALAYSIA TRUST (“CMMT”)
(I) PROPOSED ACQUISITION BY AMTRUSTEE BERHAD (“TRUSTEE”), ON BEHALF OF CMMT OF GURNEY PLAZA EXTENSION PROPERTY (AS DEFINED HEREIN) FOR A PURCHASE CONSIDERATION OF RM215,000,000;
(II) PROPOSED PLACEMENT OF NEW UNITS IN CMMT (“UNITS”) BY WAY OF BOOKBUILDING, AT A PRICE TO BE DETERMINED LATER, TO RAISE GROSS PROCEEDS OF UP TO RM167.1 MILLION (“PROPOSED PLACEMENT”), AND ACCEPTANCE OF CMMT INVESTMENT LIMITED’S UNDERTAKING TO SUBSCRIBE FOR SUCH NUMBER OF UNSUBSCRIBED NEW UNITS SUBSEQUENT TO THE CLOSE OF THE BOOKBUILD;
(III) PROPOSED PLACEMENT OF NEW UNITS TO CMMT INVESTMENT LIMITED, AT A PRICE TO BE DETERMINED LATER, TO RAISE GROSS PROCEEDS OF UP TO RM69.7 MILLION, WHICH REPRESENTS 41.74% (BEING THE CURRENT UNITHOLDING OF CMMT INVESTMENT LIMITED IN CMMT) OF THE TOTAL GROSS PROCEEDS TO BE RAISED FROM THE PROPOSED PLACEMENT ("PROPOSED PLACEMENT TO CMMT INVESTMENT LIMITED");
(IV) PROPOSED AUTHORITY TO ALLOT AND ISSUE NEW UNITS OF UP TO 20% OF THE APPROVED FUND SIZE OF CMMT PURSUANT TO CLAUSE 14.03 OF THE SECURITIES COMMISSION’S GUIDELINES ON REAL ESTATE INVESTMENT TRUSTS (“REITS GUIDELINES”) (“PROPOSED AUTHORITY”); AND
(V) PROPOSED INCREASE IN THE EXISTING APPROVED FUND SIZE OF CMMT FROM 1,350,000,000 UNITS UP TO A MAXIMUM OF 2,000,000,000 UNITS (“PROPOSED INCREASE IN FUND SIZE”)
(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

Contents
:
On behalf of the Board of Directors of CapitaMalls Malaysia REIT Management Sdn. Bhd. (formerly known as CapitaRetail Malaysia REIT Management Sdn. Bhd.), which is the manager of CMMT, CIMB Investment Bank Berhad wishes to announce that the Trustee, on behalf of CMMT, and together with CapitaRetail Gurney Sdn Bhd, had on 12 November 2010 entered into a conditional sale and purchase agreement with Gurney Plaza Sdn. Bhd. for the acquisition of the following for a purchase consideration of RM215,000,000:

(i) a nine (9) storey retail extension block adjoining Gurney Plaza (as defined herein), with a net lettable area of approximately 139,964 square feet as at 30 September 2010 comprising:

(a) four (4) levels of retail space on the Ground, 1st, 2nd and 3rd floors; and

(b) car parking bays located on Basement 1, the 4th, 5th, 6th, 7th, 8th floors and the rooftop, and

(ii) 129 car parking bays in Basement 2 of Gurney Plaza (as defined herein).

In addition, on behalf of the Board, CIMB wishes to announce that the Manager proposes to undertake the Proposed Placement, Proposed Placement to CMMT Investment Limited, Proposed Authority and Proposed Increase in Fund Size.

Further details of the Proposals are set out in the attachment.

Attachments

  1. Announcement_12_Nov_2010.pdf (Size: 275,485 bytes)