Al-`Aqar had at its Seventh (7th) Annual General Meeting held on 17 April 2019 obtained the mandate from its unitholders for Al-`Aqar and its subsidiary (“Al-`Aqar Group”) to enter into Recurrent Related Party Transactions of revenue or trading nature (“RRPT”) which are necessary for Al-`Aqar Group’s day-to-day operations.
Pursuant to Paragraph 10.09(2)(e) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Damansara REIT Managers Sdn Berhad, the management company of Al-`Aqar wishes to announce that the actual value of the RRPTs below had exceeded the estimated value of the RRPT disclosed in the circular to unitholders dated 21 March 2019 (“Circular”) by more than 10%.
Further details are as follows.
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Transacting Party
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Nature of RRPT
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Estimated value disclosed in the Circular
(“Mandated Amount”)
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Actual value transacted from 17 April 2019 to 18 May 2020
|
Amount Exceeded
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Reason for the variation
|
|
|
|
(RM’000)
|
(RM’000)
|
(RM’000)
|
|
|
|
|
|
|
|
|
|
JCorp
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Registrar fees
|
95
|
139
|
44
|
Note (a)
|
Note:
- The actual value deviate 10% or more from the Mandated Amount due to additional expenses incurred for the attending of income distributions, issuance of circulars and annual report to unitholders as well as additional request of depositors printout from Bursa Securities in connection with corporate proposals not included in the Mandated Amount.
This announcement is dated 29 May 2020.