UNITHOLDERS of Sabana Industrial Real Estate Investment Trust (Sabana Reit) are urging the manager’s directors to hold the extraordinary general meeting (EGM) with amended resolutions using the original timeline and as soon as possible.
An announcement posted by the Reit to the bourse on Friday (Jun 7) came attached with a fresh requisition letter from the unitholders dated Jun 6, deposited at the Reit manager’s registered office the same day.
This comes after Monday’s announcement that the Reit’s manager will not be issuing a notice of the postponed EGM further to the prior requisition notice.
The explanation given then was that the requisitionists “are proposing entirely new and different resolutions”, which “amounts to a withdrawal of the requisition notice”.
In response to the latest letter, the manager noted that it “contains various unsubstantiated allegations against the manager and its directors” that are “unfounded”.
It said that it is considering the new resolutions proposed in the May 29 letter with the latest letter, and that it will discuss the next steps with the trustee.
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It also added that the resolutions proposed in the Jun 6 letter “contain certain modifications” to the resolutions proposed in the earlier May 29 letter that were “not highlighted by the requisitionists” in their latest letter.
Any EGM, if to be convened, will be called by the manager to be held within the two-month timeframe in line with Singapore’s Companies Act 1967, it added.
Units of Sabana Reit ended the day at S$0.35, down S$0.005 or 1.4 per cent.
