AMFIRST REAL ESTATE INVESTMENT TRUST ("AmFIRST REIT" or “REIT”)
PROPOSED ACQUISITION BY MAYBAN TRUSTEES BERHAD (“MTB”) (THE TRUSTEE FOR AND ON BEHALF OF AMFIRST REIT) FROM FSBM HOLDINGS BERHAD (“VENDOR”) OF ALL THAT PIECE OF LAND HELD UNDER GERAN 207772, LOT 23570 IN THE MUKIM OF DENGKIL, DISTRICT OF SEPANG AND STATE OF SELANGOR WITH A FIVE STOREY OFFICE BUILDING ERECTED THEREON (“PROPERTY”) FOR A PURCHASE CONSIDERATION OF RM51,500,000 (“PROPOSED ACQUISITION”)
AMFIRST REAL ESTATE INVESTMENT TRUST
Type
Announcement
Subject
AMFIRST REAL ESTATE INVESTMENT TRUST ("AmFIRST REIT" or “REIT”)
PROPOSED ACQUISITION BY MAYBAN TRUSTEES BERHAD (“MTB”) (THE TRUSTEE FOR AND ON BEHALF OF AMFIRST REIT) FROM FSBM HOLDINGS BERHAD (“VENDOR”) OF ALL THAT PIECE OF LAND HELD UNDER GERAN 207772, LOT 23570 IN THE MUKIM OF DENGKIL, DISTRICT OF SEPANG AND STATE OF SELANGOR WITH A FIVE STOREY OFFICE BUILDING ERECTED THEREON (“PROPERTY”) FOR A PURCHASE CONSIDERATION OF RM51,500,000 (“PROPOSED ACQUISITION”)
Contents
The terms used herein, unless the context otherwise states, shall bear the same meaning as those defined in the previous announcement. This announcement should be read in conjunction with the earlier announcements made on 2 September 2010 and 8 October 2010.
We refer to our announcements made on 2 September 2010 and 8 October 2010.
Am ARA REIT Managers Sdn Bhd (“the Manager”), the Manager of AmFIRST REIT, wishes to announce that the Exclusivity Period granted by the Vendor to MTB to complete the due diligence review and to allow the Vendor and MTB to negotiate and conclude the terms and conditions of the definitive documents had expired on 8 November 2010 following the public holiday on 5 November 2010.
In view that the Vendor and MTB have not been able to reach an agreement on the terms and conditions of the definitive documents and pursuant to the Vendor’s decision to abort the proposed disposal, MTB has decided not to proceed with the Proposed Acquisition
