Sabana Reit says 'no' to EGM requisition from Quarz Capital, Black Crane

Reit manager urges unitholders to focus on merits of proposed merger with ESR-Reit

Published Mon, Nov 23, 2020 · 09:50 PM

Singapore

THE manager of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) said it will not be convening the extraordinary general meeting (EGM) requisitioned by Quarz Capital and Black Crane Capital.

In a bourse filing on Nov 22, Sabana Reit said that it had "carefully considered" the requisition notice it received from the fund managers regarding five resolutions that the latter proposed for investors to vote on, and "strongly" urged unitholders to "focus on the merits of the (proposed) merger and the (trust scheme of arrangement)".

Responding to the resolution relating to the Reit manager's rationale behind the hiring of three former ESR employees, it said that "n…