Sabana REIT's NTP+ (Sabana REIT)Sabana REIT's NTP+ (Sabana REIT)

Swiss activist investor Quarz Capital has insisted that resolutions to be tabled at Sabana Industrial REIT’s (Sabana REIT’s) upcoming extraordinary general meeting (EGM) be set with a simple majority threshold.

As such, the investor has rejected the argument by ESR for the resolutions to be passed via a supermajority threshold, which requires 75% unitholders approval.

Sabana REIT is due to hold its EGM on 4 August at 2 pm.

At the EGM, resolutions that will effectively remove the REIT’s manager, and internalise the REIT’s management functions will be put up for voting.

Related: ESR, Quarz trade barbs as EGM looms for Sabana REIT

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.