Date of Report
17 September 2024
Broker
Maybank Research Pte. Ltd.
EGM Postponement
Sabana REIT has requested a postponement of its Extraordinary General Meeting (EGM), which was scheduled to vote on the proposed internal manager directors. The postponement follows recent developments in the internal management process.
Requests for Requisitionists
Sabana REIT had earlier asked the requisitionists to amend their resolutions and obtain approval from the Monetary Authority of Singapore (MAS) for the proposed candidates. This request was intended to ensure that the necessary certifications and declarations from the internal manager are provided to MAS.
Revised Resolutions
The revised resolutions from Sabana REIT included directions for the trustee to obtain required certifications and declarations. This process is critical for MAS approval and the appointment of the director candidate.
Impact of Delay
Sabana REIT has expressed concern that any delays or non-cooperation from the requisitionists could negatively impact the internalisation process.
