Regal Real Estate Investment Trust Seeks Unitholder Approval for General Mandate to Buy-Back Units

The Regal Real Estate Investment Trust (Regal REIT) has issued a circular to its unitholders seeking approval for a general mandate to buy-back on-market units on their behalf. The proposed buy-back mandate aims to allow the REIT Manager to purchase units on the market, subject to certain restrictions and notification requirements under the Listing Rules of the Stock Exchange.

Key Takeaways:

• The proposed buy-back mandate would grant the REIT Manager the authority to purchase units on the market on behalf of Regal REIT, subject to certain restrictions and notification requirements.
• The buy-back mandate would remain valid until the earlier of the conclusion of the next annual general meeting following its passage, the expiration of the period within which the meeting is required to be held under the Trust Deed, the REIT Code, or any applicable laws, or its revocation or variation by an ordinary resolution of the unitholders.
• Regal REIT would comply with the restrictions and notification requirements applicable to listed companies buying back their own shares under Rule 10.06 of the Listing Rules.
• The explanatory statement in relation to the buy-back mandate is set out in the Appendix to the Circular, which contains all information on the buy-back mandate and sets out the terms and conditions on which the REIT Manager may exercise its power under the buy-back mandate.
• The buy-back mandate would aim to allow the REIT Manager to buy-back units on the market to enhance unitholder value and align with the REIT's investment objective.

Statistics:

• The proposed buy-back mandate would be granted for an indefinite period, subject to certain conditions.
• Regal REIT would be required to comply with the restrictions and notification requirements applicable to listed companies buying back their own shares under Rule 10.06 of the Listing Rules.
• [No specific numerical data mentioned in the source material.