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OTHERS KIP REAL ESTATE INVESTMENT TRUST ("KIP REIT" OR "FUND") VARIATION TO THE UTILISATION OF PROCEEDS RAISED FROM PRIVATE PLACEMENT

KIP REAL ESTATE INVESTMENT TRUST

Type Announcement
Subject OTHERS
Description
KIP REAL ESTATE INVESTMENT TRUST ("KIP REIT" OR "FUND") 

VARIATION TO THE UTILISATION OF PROCEEDS RAISED FROM PRIVATE PLACEMENT

(Unless otherwise stated, abbreviations and definitions used throughout this announcement shall be the same as those announced on 13 August 2021)

 

Pursuant to Section 3 of the announcement dated 13 August 2021, the proceeds to be raised from the Private Placement were to be utilised for future acquisitions (the defrayment of expenses for the Private Placement being the other use of the proceeds). M&A Securities, on behalf of the Board wishes to announce that the Manager intends to vary the utilisation of proceeds wherein RM9,214,522 will be used to part finance the capital expenditure commitments for the KIPMall Bangi facelift.

 

Kindly refer to the attachment for further details of the variation to the utilisation of proceeds.

 

 

This announcement is dated 13 September 2022.




Please refer attachment below.



Announcement Info

Company Name KIP REAL ESTATE INVESTMENT TRUST
Stock Name KIPREIT
Date Announced 13 Sep 2022
Category General Announcement for PLC
Reference Number GA1-13092022-00060




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