News

Gurney Plaza Extension Acquisition: Application Made to the Securities Commission for the Proposed Exemption Under Paragraph 16, Practice Note 9 of The Malaysian Code on Take-Overs and Mergers 2010

BackMar 14, 2011

Date Announced

14/03/2011

Type

Announcement

Subject

OTHERS

Description

CAPITAMALLS MALAYSIA TRUST (“CMMT”)
(I) PROPOSED ACQUISITION BY AMTRUSTEE BERHAD (“TRUSTEE”), ON BEHALF OF CMMT OF GURNEY PLAZA EXTENSION PROPERTY FROM GURNEY PLAZA SDN. BHD. FOR A PURCHASE CONSIDERATION OF RM215.0 MILLION, TO BE SATISFIED BY CASH (“PROPOSED ACQUISITION”);
(II) PROPOSED PLACEMENT OF UP TO 167.1 MILLION NEW UNITS IN CMMT (“UNITS”), BY WAY OF BOOKBUILDING, AT A PRICE TO BE DETERMINED LATER, TO RAISE GROSS PROCEEDS OF UP TO RM167.1 MILLION, AND ACCEPTANCE OF CMMT INVESTMENT LIMITED’S UNDERTAKING TO SUBSCRIBE FOR SUCH NUMBER OF UNSUBSCRIBED NEW UNITS SUBSEQUENT TO THE CLOSE OF THE BOOKBUILD (“PROPOSED PLACEMENT”);
(III) PROPOSED EXEMPTION FOR CMMT INVESTMENT LIMITED FROM THE OBLIGATION TO MAKE A MANDATORY TAKEOVER OFFER ON ALL UNITS IN CMMT NOT ALREADY HELD BY CMMT INVESTMENT LIMITED AFTER THE PROPOSED PLACEMENT (“PROPOSED EXEMPTION”);
(IV) PROPOSED PLACEMENT OF UP TO 69.7 MILLION NEW UNITS TO CMMT INVESTMENT LIMITED, AT A PRICE TO BE DETERMINED LATER, TO RAISE GROSS PROCEEDS OF UP TO RM69.7 MILLION, WHICH REPRESENTS 41.74% (BEING THE CURRENT UNITHOLDING OF CMMT INVESTMENT LIMITED IN CMMT) OF THE TOTAL GROSS PROCEEDS TO BE RAISED FROM THE PROPOSED PLACEMENT (“PROPOSED PLACEMENT TO CMMT INVESTMENT LIMITED”);
(V) PROPOSED PLACEMENT OF NEW UNITS TO INSTITUTIONAL INVESTORS REPRESENTING THE PUBLIC (“PUBLIC INSTITUTIONAL INVESTORS”), FOR WHICH THE NUMBER OF NEW UNITS TO EACH PUBLIC INSTITUTIONAL INVESTOR MAY EXCEED 10% OF THE TOTAL NEW UNITS TO BE ISSUED PURSUANT TO THE PROPOSED PLACEMENT, AT A PRICE TO BE DETERMINED LATER (“PROPOSED PLACEMENT TO PUBLIC INSTITUTIONAL INVESTORS EXCEEDING 10% OF NEW UNITS”);
(VI) PROPOSED AUTHORITY TO ALLOT AND ISSUE NEW UNITS OF UP TO 20% OF THE APPROVED FUND SIZE OF CMMT PURSUANT TO CLAUSE 14.03 OF THE SECURITIES COMMISSION’S GUIDELINES ON REAL ESTATE INVESTMENT TRUSTS (“PROPOSED AUTHORITY”); AND
(VII) PROPOSED INCREASE IN THE EXISTING APPROVED FUND SIZE OF CMMT FROM 1,350.0 MILLION UNITS UP TO A MAXIMUM OF 2,000.0 MILLION UNITS (“PROPOSED INCREASE IN FUND SIZE”)
(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

Announcement Details/Table Section :

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN.

(Unless stated otherwise, definitions used in this announcement shall carry the same meanings as defined in the announcement dated 12 November 2010).

We refer to the announcements dated 7 January 2011, 21 January 2011 and 10 March 2011 respectively in relation to the Proposals.

On behalf of the Board of Directors of CapitaMalls Malaysia REIT Management Sdn. Bhd. (formerly known as CapitaRetail Malaysia REIT Management Sdn. Bhd.), which is the manager of CMMT, CIMB Investment Bank Berhad is pleased to announce pursuant to the approval by non-interested unitholders of CMMT at the recent Meeting, an application to the Securities Commission has been made today for the Proposed Exemption under Paragraph 16, Practice Note 9 of the Malaysian Code on Take-Overs and Mergers 2010.

This announcement is dated 14 March 2011.