It adds that it urges unitholders to “carefully consider” the matters when it comes to making their decisions at the proposed EGM, considering that there has already been “substantial work” done on the international. The trustee also already intends to convene an EGM when all the material workstreams of the internalisation are ready for unitholders' consideration in a “holistic manner”.
The proposed extraordinary general meeting (EGM) and requisitioned resolutions would not be beneficial to the progress of the internalisation of Sabana REIT, says the REIT’s trustee, HSBC Institutional Trust Services (Singapore).
“In fact, the trustee considers that certain requisitioned resolutions, if passed, may be counter-productive to the overall implementation of the internalisation,” it writes in a letter that was released on the evening of Feb 20.
