In the EGM circular's Schedule 1, HSBC Institutional Trust Services (HSBC Trustee), Sabana REIT's Trustee, says the resolutions "are confusing and contradict and/or are inconsistent with the Unitholders' resolutions as passed at the 7 August 2023 EGM". HSBC Trustee also cautions that some of the resolutions "are not actionable, or without clear basis, and will present challenges and uncertainty in implementation, if passed".
An EGM requisitioned by Quarz Capital Asia which holds 13.89% of Sabana Industrial REIT, and nine other unitholders which together hold 0.04% of Sabana Industrial REIT will be held on Mar 8, at 10.30 am.
As at Feb 22, Quarz Capital Asia is proposing 10 ordinary resolutions, down from 12 resolutions in an earlier requisition notice which it modified "from time to time".
