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Sabana Reit unitholders vote against manager removal, wind-up
AT its much anticipated extraordinary general meeting on Friday, Sabana Reit unitholders voted overwhelmingly against removing the underperforming Reit manager (with 69.48 per cent of votes cast against) and against winding up the Reit vehicle (with 71.67 of votes cast against).
This means that after much fanfare, it will be business as usual back at the real estate investment trust.
This came after much impassioned venting of frustration by unitholders on the Reit manager at the meeting, with some demanding commitment from the manager to take concrete action to turn the Reit around.