Amongst the points stressed by the unitholders was the importance of a supermajority when amending the trust deed .
Chan also noted that Sabana REIT’s trustee HSBC Institutional Trust Services has filed an application seeking the court’s guidance. Thus, requisitionists should respect the process “so these issues can be heard and decided in an orderly manner.”It was in June 2023 when Quarz requisitioned an EGM, which approved the removal of the existing manager of Sabana REIT and the internalisation of the REIT management.
He emphasised that the structure and setup of the external manager are clearly stated. Furthermore, any possible changes in the trust deed must be approved by an extraordinary resolution, requiring the support of 75% or more of the unitholders present and voting, he added.
Source: News Formal (newsformal.com)
Sabana Industrial REIT Unitholders Extraordinary General Meeting Trust Deed Requisitionists Concerns Regulatory Filing Court's Guidance Quarz Capital HSBC Institutional Trust Services
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