Dasin Retail Trust receives EGM requisition notice from unitholders
Benjamin Cher
THE manager of Dasin Retail Trust has received a requisition notice for an extraordinary general meeting (EGM) from unitholders owning over 10 per cent of the trust, it said on Wednesday (Jan 24).
In a bourse filing, the manager said it received an e-mail last Friday from law firm BTPLaw, which is acting for the group of unitholders, stating that a notice of the EGM had been published in The Business Times that day. The notice stated that the EGM is to be held on Feb 19.
Individuals that signed the notice included Tao Naiqun, Un Chong San, Michael Chui, Tan Eng Siong, Liu Shiyuan, Feng Guomin, Zhang Jieyan, Li Qunying, Li Zheng Ran, Li Jiaming and Feng Youzhen. The companies that signed the notice included Juniperus, Shining Scene Investments and Swift Chance International.
The law firm also requested that a register of unitholders be provided 48 hours before the EGM, for the purposes of verifying the unitholders.
Of the two resolutions proposed on the notice, one seeks to remove the manager of Dasin Retail Trust. The other seeks to internalise the trustee-manager function of Dasin Retail Trust and form a committee of the requisitioning shareholders claiming to own more than half the trust to identify and appoint a new board of directors.
Payment of fees and expenses related to the proposed internalisation, including those already paid by the requisitioning shareholders, was also included in the second resolution.
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Dasin Retail Trust’s manager says that it is seeking legal advice over the requisition notice.
Separately, the manager also received a letter dated Jan 22 from Glory Class Ventures, requisitioning an EGM to vote on three resolutions: first, to remove the current manager from Dasin Retail Trust; second, to internalise the manager function into Dasin Retail Trust, and third, to empower the internal manager to issue units.
The Glory Class requisition notice clarifies that the resolutions are not intended to be inter-conditional.
SEE ALSO
Units of Dasin Retail Trust closed flat at S$0.05 on Wednesday.
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