Dasin Retail Trust to hold EGM by Jan 22 on requisition to internalise trustee-manager

DASIN Retail Trust Management, the trustee-manager of Dasin Retail Trust , will hold an extraordinary general meeting (EGM) by Jan 22, 2024, in relation to a requisition notice served by a group of 15 investors.

The requisition notice has to do with the investors’ plan to replace the current trustee-manager with a newly incorporated internal one. The new entity will be wholly owned by all unitholders of Dasin Retail Trust.

On behalf of this group, unitholder Tao Naiqun had said in the letter issued in November that the minority investors were seeking to convene an EGM to approve the internalisation “as a matter of urgency”.

This was because the trustee-manager’s major shareholder, Sino-Ocean Capital, remains subject to a creditors’ winding-up petition to be heard on Mar 27, 2024.

Notice of the EGM and details of the meeting will be sent to unitholders once the current trustee-manager has verified the unitholding of the requisitionists whose unitholdings are registered in the name of nominee companies.

Units of Dasin Retail Trust closed S$0.001 or 1.9 per cent higher at S$0.053 on Thursday (Dec 14), before the announcement.