The unitholders, in their March 25 letter, proposed that the EGM be held right after Sabana REIT’s annual general meeting (AGM) some time in April, or have the resolutions tabled at the AGM.
The extraordinary general meeting (EGM) requisitioned by minority unitholders who hold over 10% of the units in Sabana REIT, will not proceed. The unitholders include activist investor, Quarz Capital Asia, which has a 13.73% stake in the REIT as at March 8.
The unitholders requested for an EGM to be convened via a letter dated March 25. The EGM was to have Sabana REIT’s unitholders consider a total of seven resolutions, including having the REIT’s trustee provide a clear timeline as to when the internalisation of the REIT manager can be completed.
