Sabana REIT fast-tracks EGM for internalisation amendments

The EGM will clarify the internalisation process associated with the amendments.

Sabana REIT will expedite an extraordinary general meeting (EGM) for unitholders to approve proposed amendments to the trust deed for the internalisation of its manager.

The proposed amendments are deemed necessary for management internalisation.

The EGM will provide unitholders clarity and certainty on the internalisation process and facilitate progress on previously delayed workstreams amidst various uncertainties.

However, the trustee noted that the intended EGM is different from the separate EGM called for by the requisitionist in a 6 June notice.

If the manager convenes an EGM for the requisitionists' resolutions, the REIT's trustee said it will try to table additional resolutions related to the internalisation, including those planned for its intended meeting.

The notice of EGM and the accompanying circular will be dispatched to unitholders as soon as practicable, subject to regulatory clearance.