Sabana Industrial REIT cancels EGM

The EGM was initially scheduled on 24 May.

The manager of Sabana Industrial Real Estate Investment Trust (Sabana REIT) announced on 3 June that it will not proceed with the extraordinary general meeting (EGM) scheduled following the requisition notice dated 25 March.

Initially set on May 24, the EGM's cancellation follows an order from the Singapore High Court, mandating the issuance of a notice for a rescheduled meeting by Thursday unless the requisitionists withdrew their EGM notice.

The Singapore High Court had ordered to issue a notice for the rescheduled meeting by Thursday unless the requisitionists withdrew their EGM notice.

The manager said that despite the requisitionists' claim to seek modifications, their letter dated 29th May proposes entirely new resolutions, leading to the conclusion that the original Requisition Notice has been withdrawn.

The manager said it is reviewing new resolutions proposed in the 29 May letter and seeking legal advice.

Ongoing discussions between the Manager and HSBC Institutional Trust Services (Singapore) Limited are also taking place for the unitholders' directive for an internalisation exercise.

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Sabana Industrial REIT

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