MULTIPLE PROPOSALS KIP REAL ESTATE INVESTMENT TRUST ("KIP REIT") ACQUISITION BY PACIFIC TRUSTEES BERHAD, ACTING AS THE TRUSTEE FOR AND ON BEHALF OF KIP REIT, OF KIPMALL KOTA WARISAN FOR A CASH PURCHASE CONSIDERATION OF RM80.0 MILLION; AND PRIVATE PLACEMENT OF NEW UNITS IN KIP REIT TO RAISE APPROXIMATELY RM10.0 MILLION AT AN ISSUE PRICE TO BE DETERMINED LATER (COLLECTIVELY REFERRED TO AS "PROPOSALS")
| KIP REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | KIP REAL ESTATE INVESTMENT TRUST ("KIP REIT")
ACQUISITION BY PACIFIC TRUSTEES BERHAD, ACTING AS THE TRUSTEE FOR AND ON BEHALF OF KIP REIT, OF KIPMALL KOTA WARISAN FOR A CASH PURCHASE CONSIDERATION OF RM80.0 MILLION; AND
PRIVATE PLACEMENT OF NEW UNITS IN KIP REIT TO RAISE APPROXIMATELY RM10.0 MILLION AT AN ISSUE PRICE TO BE DETERMINED LATER
(COLLECTIVELY REFERRED TO AS "PROPOSALS") |
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Reference is made to KIP REIT’s announcements on 16 June 2023, 27 July 2023, 21 August 2023, 4 October 2023, 28 November 2023 and 8 December 2023 in relation to the Proposals (“Announcements”). Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Announcements.
On behalf of the Board of Directors of KIP REIT Management Sdn Bhd (“Manager”), the Manager of KIP REIT, M&A Securities wishes to announce that the Placement Units amounting to 12,269,900 new units were listed on 11 December 2023 (“Placement Units”) on the Main Market of Bursa Securities. The listing of the Placement Units marks the completion of the Private Placement.
Arising therefrom, the Board of the Manager wishes to announce that all the conditions precedent set out in the sale and purchase agreement (“SPA”) have been fulfilled. Accordingly, the SPA has become unconditional on 11 December 2023.
This announcement is dated 11 December 2023. |
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Announcement Info
| Company Name | KIP REAL ESTATE INVESTMENT TRUST |
| Stock Name | KIPREIT |
| Date Announced | 11 Dec 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-11122023-00060 |