Sabana REIT rejects requisition notice calling for extraordinary general meeting

It does not comply with requirements, the REIT said in a statement.

Sabana REIT has rejected a requisition notice calling for an extraordinary general meeting, saying that it does not comply with requirements of its trust deed.

On 21 December 2023, the REIT had received a letter from the  Sabana Growth Internalization Committee requesting to convene an extraordinary general meeting of Sabana Industrial REIT to consider certain resolutions. At the time, Sabana REIT had stated that it is considering the requisition notice and seeking legal advice.

In a statement published on the Singapore Exchange on 8 December, the REIT claims that it has not been able to verify Sabana Growth Internalization Committee as a unitholder.

The REIT also said that it does not have records of the requisition notice being deposited at its registered office.

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Due to these, the requisition notice does not comply with the requirements of the trust deed dated 29 October 2010 constituting Sabana Industrial REIT and of Section 176(2) of the Companies Act 1967, Sabana REIT stated. 

“In the circumstances, the manager will not be convening an extraordinary general meeting pursuant to the Requisition Notice,” the REIT said in a press release.

Sabana REIT said that should any unitholder properly submit a requisition notice that is duly signed by relevant unitholders, and the notice is deposited at the manager’s registered office, it will consider such notice in accordance with the applicable laws, listing rules, regulations and/or guidelines.