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COMPLETION OF THE ACQUISITION BY AXIS REAL ESTATE INVESTMENT TRUST (“Axis-REIT” OR THE “FUND”) OF TWO (2) PROPERTIES KNOWN AS LOT 13A (HELD UNDER TITLE PN 4614 LOT NO. 20 SECTION 32 TOWN OF PETALING JAYA, DISTRICT OF PETALING, STATE OF SELANGOR) AND LOT 13B (HELD UNDER TITLE PN 4615 LOT 358 TOWN OF PETALING JAYA, DISTRICT OF PETALING, STATE OF SELANGOR) (“LOT 13A & LOT 13B”) FROM CYCLE & CARRIAGE BINTANG BERHAD FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM 32.50 MILLION (“ACQUISITION”) & LEASE BACK TO CYCLE & CARRIAGE BINTANG BERHAD OF LOT 13A & LOT 13B (“PROPOSED ACQUISITION & LEASE BACK”)

AXIS REAL ESTATE INVESTMENT TRUST

Type

Announcement
SubjectCOMPLETION OF THE ACQUISITION BY AXIS REAL ESTATE INVESTMENT TRUST (“Axis-REIT” OR THE “FUND”) OF TWO (2) PROPERTIES KNOWN AS LOT 13A (HELD UNDER TITLE PN 4614 LOT NO. 20 SECTION 32 TOWN OF PETALING JAYA, DISTRICT OF PETALING, STATE OF SELANGOR) AND LOT 13B (HELD UNDER TITLE PN 4615 LOT 358 TOWN OF PETALING JAYA, DISTRICT OF PETALING, STATE OF SELANGOR) (“LOT 13A & LOT 13B”) FROM CYCLE & CARRIAGE BINTANG BERHAD FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM 32.50 MILLION (“ACQUISITION”) & LEASE BACK TO CYCLE & CARRIAGE BINTANG BERHAD OF LOT 13A & LOT 13B (“PROPOSED ACQUISITION & LEASE BACK”)

Contents :

Pursuant to the announcement made on 25 May 2006 on the Proposed Acquisition & Lease Back, Axis REIT Managers Berhad, the management company of Axis-REIT, is pleased to announce that after fulfilling all the terms and conditions as stipulated in the Sale and Purchase Agreement dated 25 May 2006 executed between Cycle & Carriage Bintang Bhd and OSK Trustees Berhad, the Acquisition was completed on 30 June 2006.


Announcement Info

Company NameAXIS REAL ESTATE INVESTMENT TRUST  
Stock Name AXREIT    
Date Announced30 Jun 2006  
CategoryGeneral Announcement
Reference NoCC-060630-AEB6D



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