Sabana Reit unitholders' revolt against manager set for April 28
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Anita Gabriel
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Singapore
REMEMBER this date: April 28. That's when unitholders of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) will gather to vote on whether or not to give the Reit's manager the boot - the first time such an event is set to occur in Singapore's widely acclaimed and largely steady Reits history.
Unsurprisingly, the directors of the embattled manager of Sabana Reit - Sabana Real Estate Investment Management - has warned unitholders that the resolutions put forth by a group of dissenting unitholders who had requisitioned for the special meeting would have "serious consequences" and hence, recommend that they vote against them.
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