Other resolutions purtain to HSBC Institutional Trust Services (HSBC Trustee), including disclosing “a list of all correspondence, emails, letters, meetings, calls, timing and dates with each owner or beneficiary (and/or their related parties) of the Sabana REIT Manager (if any) since August 7, 2023, together with a summary of the matters discussed”. This was listed as resolution 11.
Sabana Industrial REIT’s manager has announced that it has not been able to verify “Sabana Growth Internalization Committee” (SGIC) as a unitholder. Furthermore, the manager does not have records of the Requisition Notice being deposited at its registered office. Hence, the Requisition Notice does not comply with the requirements of the trust deed, and hence will not be convening an EGM for the resolutions as in a requisition notice from SGIC dated Dec 21, 2023.
SGIC’s (now defunct) requisition notice for an EGM was to vote on 12 resolutions, including acquiring the current manager from ESR Group for not more than $10 million, should ESR Group consider divesting it for that price.
