On 23 January 2025, the Board of Directors of Axis REIT Managers Berhad (“Board”), the management company of Axis-REIT, has announced the quarterly results for the financial year ended 31 December 2024 and proposed a final income distribution in respect of the period from 13 November 2024 to 31 December 2024 of 1.27 sen per unit (of which 0.53 sen per unit is taxable and 0.74 sen per unit is non-taxable in the hands of the unitholders of Axis-REIT (“Unitholders”)) (“2024 Final Income Distribution”).
The Board has determined that the IDRP, which allows the Unitholders to reinvest their income distribution into new units of Axis-REIT (“Units”), will apply to the 2024 Final Income Distribution (“2024 IDRP”), in which the entire 2024 Final Income Distribution of 1.27 sen per Unit (“Electable Portion”) can be elected to be reinvested into new Units.
The IDRP also provides the Unitholders the option to reinvest the entire Electable Portion or part of the Electable Portion based on the proportion as determined by the Board. In this regard, the Board has also determined that the proportion of the Electable Portion in which the Unitholders can elect to reinvest into new Units will be 0.64 sen per Unit of the Electable Portion, and the remaining 0.63 sen per Unit of the Electable Portion will be paid in cash. If the Unitholder elects not to participate in the 2024 IDRP, then the Electable Portion will be paid wholly in cash.
The issue price of the new Units to be issued pursuant to the 2024 IDRP, book closure date and payment date in respect of the 2024 Final Income Distribution will be announced in due course.
An application will be submitted to Bursa Malaysia Securities Berhad (“Bursa Securities”) for the listing and quotation of the new Units to be issued pursuant to the 2024 IDRP on the Main Market of Bursa Securities.
This announcement is dated 23 January 2025.
