CAPITAMALLS MALAYSIA TRUST (CMMT) (I) PROPOSED ACQUISITION; (II) PROPOSED PLACEMENT; (III) PROPOSED CIL PLACEMENT; AND (IV) PROPOSED INCREASE IN FUND SIZE (COLLECTIVELY REFERRED TO AS THE PROPOSALS)
We refer to the announcements dated 26 January 2015, 9 March 2015, 10 March 2015 and 24 March 2015 in relation to the Proposals (“Previous Announcements”). Unless otherwise stated, the definitions used herein shall have the same meanings as set out in the Previous Announcements.
On behalf of the Board of Directors of CapitaMalls Malaysia REIT Management Sdn. Bhd., the manager of CMMT, CIMB is pleased to announce that the SC has, through its letter dated 14 May 2015, approved the following:
(i) the Proposed Increase in Fund Size for the purpose of the Proposed Placement;
(ii) the listing of, and quotation for, the Placement Units on the Main Market of Bursa Securities;
(iii) the valuation of the Property valued at RM560.00 million; and
(iv) the exemption from compliance with Paragraphs 14.04 (a)(i) and (ii) of the REITs Guidelines in relation to obtaining unitholders’ approval on the precise terms and conditions of an issue of units. The requirement for Paragraph 14.04(a)(iii) of the REIT Guidelines has been complied with, hence, an exemption from the said requirement is not required.
The approval of SC for the Proposed Increase in Fund Size for the purpose of the Proposed Placement is subject to the following conditions:
(i) the placees are not related parties (save for CIL) or nominee companies unless the names of the ultimate beneficiaries are disclosed;
(ii) the number of Units to be placed to a placee (save for CIL) is capped at not more than 10% of the Placement Units to be issued;
(iii) the Manager and its adviser are required to inform the SC prior to the listing of the Placement Units:
(a) the actual number of Units issued;
(b) the date of issuance of the Units; and
(c) the date of listing of, and the quotation for, the new Units on the Main Market of Bursa Securities; and
(iv) The issuance of the Placement Units and the listing of the new Units on the Main Market of Bursa Securities must be completed within 6 months from the date of the SC’s approval. The approval is deemed to lapse if the Manager fails to do so within the stipulated time frame.
Unitholders’ approval will be sought in due course for the relevant Proposals.
This announcement is dated 18 May 2015.
|Company Name||CAPITAMALLS MALAYSIA TRUST|
|Date Announced||18 May 2015|
|Category||General Announcement for PLC|