THE manager of Sabana Industrial Reit said late on Thursday (May 23) that an extraordinary general meeting (EGM) requisitioned by unitholders led by Quarz Capital Asia would be postponed.
The manager said that an EGM abeyance application filed by ESR Group was heard in the Singapore High Court on Thursday, and the court ruled that the EGM scheduled for Friday shall not proceed.
The court also ruled that the manager shall issue a notice for the postponed meeting by Jun 6, 2024, unless the requisitionists withdraw their notice calling for the EGM.
Earlier this month, ESR Group filed an application in the High Court, seeking orders for the EGM to be held in abeyance until the Order 32 application filed by the trustee to the High Court is concluded.
The trustee filed an Order 32 application in January to clarify steps for the internalisation of Sabana Reit’s manager, and had sought declarations on whether trust deed amendments are required, and whether ESR Group entities would be allowed to vote on such amendments.
The manager said further announcements concerning the postponed EGM would be made in due course.
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Sabana Reit : M1GU 0% units closed unchanged at S$0.355 on Thursday.
