Date : 23 January 2025

GENERAL MEETINGS: Outcome of Meeting

KIP REAL ESTATE INVESTMENT TRUST

Type of Meeting Extraordinary
Indicator Outcome of Meeting
Date of Meeting 23 Jan 2025
Time 10:00 AM

Venue(s)
Broadcast Venue: 12th Floor, Menara Symphony,

No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13

46200 Petaling Jaya

Selangor Darul Ehsan

Malaysia

Outcome of Meeting

We wish to announce that the 4 Ordinary Resolutions set out in the Notice of Unitholders' Meeting of KIP Real Estate Investment Trust ("KIP REIT") held on 23 January 2025 were duly passed by way of  poll.

 

The results of the poll as stated below were duly verified by Sky Corporate Services Sdn. Bhd., the Independent Scrutineer appointed by KIP REIT.

 

This announcement is dated 23 January 2025.


Voting Results


1. ORDINARY RESOLUTION 1

Description
PROPOSED ACQUISITION BY PACIFIC TRUSTEES BERHAD, ACTING SOLELY IN ITS CAPACITY AS THE TRUSTEE FOR AND ON BEHALF OF KIP REIT ("TRUSTEE"), OF THE LEASEHOLD INTEREST WITH AN UNEXPIRED TERM OF APPROXIMATELY 74 YEARS IN A SINGLE STOREY DETACHED FACTORY WITH A MEZZANINE FLOOR AND A FOUR (4) STOREY OFFICE BUILDING ANNEXED BEARING POSTAL ADDRESS NO. 35, JALAN CJ 1/1, KAWASAN PERUSAHAAN CHERAS JAYA, 43200 CHERAS, SELANGOR DARUL EHSAN HELD UNDER TITLE NO. HS(M) 13156, LOT NO. PT 23677, TEMPAT OF CHERAS JAYA, MUKIM OF CHERAS, DISTRICT OF ULU LANGAT, STATE OF SELANGOR ("SUBJECT PROPERTY 1") FROM SIN CHEE HENG SDN BHD ("SCHSB"), FOR A CASH CONSIDERATION OF RM22.60 MILLION, TOGETHER WITH A TENANCY AGREEMENT SIGNED IN ESCROW BY THE TRUSTEE AND SCHSB FOR SCHSB TO RENT THE SUBJECT PROPERTY 1 FROM THE TRUSTEE FOR A FIXED TERM OF 3 YEARS WITH AUTOMATIC RENEWALS OF 3 CONSECUTIVE TERMS OF 3 YEARS EACH ("PROPOSED ACQUISITION 1")
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 160 28
No. of Shares 243,227,289 164,422
% of Voted Shares 99.9324 0.0676
Result Accepted

2. ORDINARY RESOLUTION 2

Description
PROPOSED ACQUISITION BY PACIFIC TRUSTEES BERHAD, ACTING SOLELY IN ITS CAPACTY AS THE TRUSTEE FOR AND ON BEHALF OF KIP REIT, OF THE LEASEHOLD INTEREST WITH AN UNEXPIRED TERM OF APPROXIMATELY 34 YEARS IN A DOUBLE STOREY OFFICE CUM SIX (6) STOREY PROCESSING PLANT AND ANCILLARY BUILDING BEARING POSTAL ADDRESS LOT 3122, BLK 26, KEMENA LAND DISTRICT, KIDURONG LIGHT INDUSTRIAL ESTATE, JALAN TANJUNG KIDURONG, 97000 BINTULU, SARAWAK HELD UNDER TITLE NO. LOT 3122 BLOCK 26 KEMENA LAND DISTRICT, TRN 09-LCLS-032-026-03122, LOCALITY OF JALAN KIDURONG, DIVISION OF BINTULU, STATE OF SARAWAK ("SUBJECT PROPERTY 2") FROM TEJU LOGISTICS SDN BHD ("TLSB"), FOR A CASH CONSIDERATION OF RM28.70 MILLION, TOGETHER WITH A TENANCY AGREEMENT SIGNED IN ESCROW BY THE TRUSTEE AND HEXTAR SOLUTIONS SDN BHD ("HSSB") FOR HSSB TO RENT THE SUBJECT PROPERTY 2 FROM THE TRUSTEE FOR A FIXED TERM OF 3 YEARS WITH AUTOMATIC RENEWALS OF 4 CONSECUTIVE TERMS OF 3 YEARS EACH ("PROPOSED ACQUISITION 2")
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 160 27
No. of Shares 243,248,389 142,322
% of Voted Shares 99.9415 0.0585
Result Accepted

3. ORDINARY RESOLUTION 3

Description
PROPOSED ACQUISITION BY PACIFIC TRUSTEES BERHAD, ACTING SOLELY IN ITS CAPACITY AS THE TRUSTEE FOR AND ON BEHALF OF KIP REIT, OF THE REMAINING LEASE INTEREST WITH AN UNEXPIRED TERM OF APPROXIMATELY 25 YEARS IN TWO (2) SINGLE STOREY WAREHOUSES TOGETHER WITH TWO (2) SINGLE STOREY OFFICE BUILDINGS ANNEXED BEARING POSTAL ADDRESS NO. P823, PRECINCT 8, JALAN FZ1-P8, PORT KLANG FREE ZONE/KS12, 42920 PULAU INDAH, SELANGOR DARUL EHSAN FORMING PART OF MASTER TITLE NO. PN 7324, LOT 67894, MUKIM OF KLANG, DISTRICT OF KLANG, STATE OF SELANGOR ("SUBJECT PROPERTY 3") FROM CHANNEL LEGION SDN BHD ("CLSB"), FOR A CASH CONSIDERATION OF RM23.70 MILLION, TOGETHER WITH A SUB-TENANCY AGREEMENT SIGNED IN ESCROW BY THE TRUSTEE AND TLSB FOR TLSB TO RENT THE SUBJECT PROPERTY 3 FROM THE TRUSTEE FOR A FIXED TERM OF 3 YEARS WITH AUTOMATIC RENEWALS OF 4 CONSECUTIVE TERMS OF 3 YEARS EACH  ("PROPOSED ACQUISITION 3")
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 159 28
No. of Shares 243,244,389 146,322
% of Voted Shares 99.9399 0.0601
Result Accepted

4. ORDINARY RESOLUTION 4

Description
PROPOSED ACQUISITION BY PACIFIC TRUSTEES BERHAD, ACTING SOLELY IN ITS CAPACITY AS THE TRUSTEE FOR AND ON BEHALF OF KIP REIT, OF THE REMAINING LEASE INTEREST WITH AN UNEXPIRED TERM OF APPROXIMATELY 26 YEARS IN A SINGLE STOREY DETACHED WAREHOUSE WITH A DOUBLE STOREY OFFICE ANNEXED BEARING POSTAL ADDRESS LOT 117, JALAN PUKAL, KAWASAN PERINDUSTRIAN LEMBAGA PELABUHAN JOHOR, 81700 PASIR GUDANG, JOHOR DARUL TAKZIM HELD UNDER TITLE NO. GRN 489953, LOT NO. 66247, MUKIM OF PLENTONG, DISTRICT OF JOHOR BAHRU, STATE OF JOHOR ("SUBJECT PROPERTY 4") FROM PK FERTILIZERS SDN BHD ("PKFSB"), FOR A CASH CONSIDERATION OF RM23.30 MILLION, TOGETHER WITH A SUB-TENANCY AGREEMENT SIGNED IN ESCROW BY THE TRUSTEE AND PKFSB FOR PKFSB TO RENT THE SUBJECT PROPERTY 4 FROM THE TRUSTEE FOR A FIXED TERM OF 3 YEARS WITH AUTOMATIC RENEWALS OF 4 CONSECUTIVE TERMS OF 3 YEARS EACH  ("PROPOSED ACQUISITION 4")
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 159 28
No. of Shares 243,243,389 147,322
% of Voted Shares 99.9395 0.0605
Result Accepted



Please refer attachment below.

Attachments

KIP EGM Results @ 23.01.25.pdf
224.8 kB




Announcement Info

Company Name KIP REAL ESTATE INVESTMENT TRUST
Stock Name KIPREIT
Date Announced 23 Jan 2025
Category General Meeting
Reference Number GMA-22012025-00007
Corporate Action ID MY250122MEET0007


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