AIM Commercial Growth Freehold And Leasehold Real Estate Investment Trust : Notification of the amendment of the information disclosed regarding the BOD resolutions regarding the Result of Bid Opening for 72 Courtyard, The Proposal of Rental Payment of Porto Chino and UD Town, and the Convening of the 2022 AGM (revised)

Date/Time

29 Mar 2022 20:29:34

Headline

Notification of the amendment of the information disclosed regarding the BOD resolutions regarding the Result of Bid Opening for 72 Courtyard, The Proposal of Rental Payment of Porto Chino and UD Town, and the Convening of the 2022 AGM (revised)

Symbol

AIMCG

Source

AIMCG

Full Detailed News

                Acquisition or disposition of assets

The Company received the Proposal of D-Land. Since D-Land has the D-Land 
Outstanding Debt with AIMCG, and D-Land would like to offer to repay partial
payment of D-Land Outstanding Debt by allowing AIMCG to lease the Lands and
Buildings in the Porto Chino Project for a period of 5 years, starting from the
date of the termination of the Lands and Buildings Lease Agreements,  whereby
AIMCG will not be required to pay any further rental fees and any expenses for
such additional lease period, in which case it is considered as the partial
payment of the D-Land outstanding debt as to the amount of 32,000,000 Baht
(Thirty Two Million Baht) which is the amount of lower leasehold appraised value
from 2 appraisal companies, whose names are in the approval list of the
Securities and Exchange Commission (the "Office of the SEC") and the partial
D-Land Outstanding Debt amount of 32,000,000 Baht (Thirty Two Million  Baht)
mentioned will be extinguished when AIMCG and D-Land have entered into an
agreement and/or take any action enabling leasing out the Lands and Buildings of
 the Porto Chino Project according to the Proposal of D-Land.
The actions to comply with the proposal mentioned above may be considered as an 
acquisition of the main assets of AIMCG.
However, the Company considers that entering into this transaction, which is the
acquisition of the main assets of AIMCG, is part of the Proposal of D-Land to
restructure the outstanding debt, rental fees and the Rental Income Difference
to AIMCG, which is an significant transaction of AIMCG, the Company, thus,
considers that the acquisition of Additional Leasehold Rights in the Porto Chino
Project should be presented with the Proposal of D-Land for the trust
unitholders to be considered. However, due to the transaction size of the
acquisition of Additional Leasehold right in the Porto Chino Project, the value
is less than 30 percent of the total asset value of AIMCG. Therefore, it is not
required an approval from the trust unitholders' meeting by a vote of not less
than 3/4 (three-fourth) of all votes of trust unitholders attending the meeting
and having the right to vote but the approval of the relevant agenda must be
approved by the trust unitholders' meeting with a majority vote of the trust
unitholders attending the meeting and having the right to vote.
______________________________________________________________________

Schedule of investment unitholders' meeting/trust unitholders' meeting

Subject                                  : Schedule of trust unitholders' 
meeting
Meeting Type                             : Annual General Meeting
Date announced                           : 17-Mar-2022
Meeting date of unitholders              : 29-Apr-2022
Beginning time of meeting (h:mm)         : 10 : 00
Record date for the right to attend the  : 31-Mar-2022
meeting
Ex-meeting date                          : 30-Mar-2022
Significant agenda item                  :
  - Acquisition or Disposition of Assets
Venue of the meeting                     : Mandarin A Room, 1st floor, Mandarin 
Hotel Bangkok, No. 662 Rama IV Road, Maha Phruettharam Sub-District, Bangrak
District, Bangkok
Remark                                   :
The agendas in the 2022 Annual General Meeting of Trust Unitholders of AIMCG are
 as follows
Agenda 1            To acknowledge the performance of AIMCG for the fiscal year 2021
Agenda 2        To acknowledge the financial statements of AIMCG for the year 2021, 
ended at 31 December 2021
Agenda 3        To acknowledge the appointment of the auditor and their remuneration 
for the fiscal year 2022
Agenda 4        Consider and approve proposals for rental payment for the Porto Chino 
Project
Agenda 5        Consider and approve proposals for rental payment for the UD Town 
Project
        Agenda 5.1 Consider and approve the proposal of Discount on Outstanding Debt 
of UD Town Project
        Agenda 5.2 Consider and approve the proposals for payment of rental fees and 
the Rental Income Difference of UD Town Project
Agenda 6        Other Matters (if any)
______________________________________________________________________

As the REIT Manager had carried out the opening of bid for disposal of leasehold
right of AIMCG and/or long-term sublease of leasehold right in 72 Courtyard
Project with a period for submitting proposals from 2 February 2022 to 3 March
2022, the REIT Manager would like to inform the result of the proposal
acceptance that no person has submitted an offer within the specified period.
______________________________________________________________________
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