[PAVREIT] EGM on 22-Mar-2023

Stock
[PAVREIT]: PAVILION REAL ESTATE INV TRUST
Announcement Date
06-Mar-2023
Reference No.
GMA-06032023-00007
Corporate Action ID
MY230306MEET0007
Type
EGM
Date & Time
22-Mar-2023 11:30
Depositor Date
15-Mar-2023
Venue
Pavilion Ballroom, Level 7,Pavilion Hotel Kuala Lumpur Managed by Banyan Tree,170 Jalan Bukit Bintang,55100 Kuala Lumpur,MY
Description
Notice of Unitholders' Meeting of Pavilion Real Estate Investment Trust ("Pavilion REIT")
Pavilion REIT- Notice of Unitholders Meeting.pdf
Outcome

The Board of Directors of Pavilion REIT Management Sdn Bhd, the manager of Pavilion Real Estate Investment Trust ("Pavilion REIT") wishes to announce that the ordinary resolutions as set out in the Notice of Unitholders' Meeting of Pavilion REIT dated 7 March 2023 were approved by the unitholders of Pavilion REIT at the Unitholders' Meeting held on Wednesday, 22 March 2023 at 11.30 a.m.

The voting in respect of the resolutions were carried out by way of poll and the results were validated by Asia Securities Sdn Berhad, the independent scrutineer for the Unitholders' Meeting.

Please refer to the attachment for the poll results.

This announcement is dated 22 March 2023.

Voting Results

1. Ordinary Resolution

Description 
Proposed acquisition by MTrustee Berhad, acting as the trustee for and on behalf of Pavilion REIT, of Pavilion Bukit Jalil together with the related assets and rights from Regal Path Sdn Bhd ("Regal Path") for an aggregate purchase consideration of RM2,200 million ("Purchase Consideration") ("Proposed Acquisition")
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 134 4
No. of Shares 539,146,727 86,100
% of Voted Shares 99.9840 0.0160
Result Accepted

2. Ordinary Resolution

Description 
Proposed issuance of up to 600,000,000 new units in Pavilion REIT ("Units") ("Consideration Units"), representing up to approximately 19.6% of the existing total Units in issue, at a price to be determined later as part settlement of the Purchase Consideration of up to RM600 million, to Regal Path, being a person connected to certain major unitholders of Pavilion REIT, pursuant to the Proposed Acquisition ("Proposed Issuance of Consideration Units to Regal Path")
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 133 5
No. of Shares 539,124,727 108,100
% of Voted Shares 99.9800 0.0200
Result Accepted

3. Ordinary Resolution

Description 
Proposed placements of up to 1,270,000,000 new Units ("Placement Units"), representing up to approximately 41.5% of the existing total Units in issue, at an issue price to be determined later by way of bookbuilding exercise to raise up to RM1,270 million ("Proposed Placements")
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 131 7
No. of Shares 535,492,327 3,740,500
% of Voted Shares 99.3063 0.6937
Result Accepted

4. Ordinary Resolution

Description 
Proposed placement of up to 341,000,000 Placement Units, representing up to approximately 11.1% of the existing total Units in issue, to Employees Provident Fund Board ("EPF"), being a major unitholder of Pavilion REIT, and/or persons connected to it pursuant to the Proposed Placements ("Proposed Placement to EPF")
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 126 7
No. of Shares 1,240,677,325 3,740,500
% of Voted Shares 99.6994 0.3006
Result Accepted

Remark
-
Market Buzz

2024-04-16

Insider

EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) acquired 2,000,000 shares on 09-Apr-2024.

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