Other resolutions purtain to HSBC Institutional Trust Services (HSBC Trustee), including disclosing “a list of all correspondence, emails, letters, meetings, calls, timing and dates with each owner or beneficiary (and/or their related parties) of the Sabana REIT Manager (if any) since August 7, 2023, together with a summary of the matters discussed”. This was listed as resolution 11.
Resolution 12 was for HSBC Trustee to “seek written confirmation and guidance from the Monetary Authority of Singapore (MAS) and the Singapore ExchangeSecurities Trading Limited (SGX RegCo) on (a) whether the Manager and its shareholders and related parties are in a conflict of interest situation where such resolution to amend the Trust Deed, if passed, will impact their fee income from the existing Manager; and (b) consequently, whether they are permitted to vote in relation to such resolution to amend the Trust Deed”.
In its announcement on Jan 8, the manager adds that as and when any unitholder properly submits a requisition notice which, among others, is duly signed by the relevant unitholder(s) holding the requisite unitholding, and deposited at the manager’s registered office, the manager will consider such a requisition notice.
Presumably, if unitholders submit a new requisition notice for an EGM, the manager, under legal advice, would also indicate whether the resolutions in the requisition notice are valid resolutions.
See also: SGX gives approval-in-principle to FHT to delist
