An unrelated third parties entered into a sale and purchase agreement to acquire 28.85% stake in Hektar Real Estate Investment Trust (KLSE:HEKTAR) from Frasers Centrepoint Trust (SGX:J69U) for approximately MYR 130 million on September 22, 2023. The divestment consideration payable to Frasers Centrepoint under the SPA for the Sale Hektar REIT Units is approximately MYR 128.1 million, based on the value of MYR 0.89 for each of the Sale Hektar REIT Units (the ?Divestment Consideration?). The divestment consideration will be paid by the Purchaser in cash. As at the date of this agreement, FCT holds 154,458,326 Hektar REIT Units, representing approximately 30.97% of the total number of 498,787,970 Hektar REIT Units in issue. The proposed divestment of 143,898,398 units in Hektar Real Estate Investment Trust. Following completion of the Divestment, FCT would hold 10,559,928 Hektar REIT Units, representing approximately 2.12% of Hektar REIT Units in issue as at the date of this Announcement. Under the SPA, completion of the divestment is conditional upon the clearance from Bursa Malaysia for the valuation report in relation to the purchase of Kolej Yayasan Saad, Melaka by MTrustee Berhad (on behalf of Hektar REIT) from KYS College Sdn. Bhd. Completion of the divestment is expected to take place in the fourth quarter of 2023. The divestment is not expected to have any material impact on the net tangible assets or distributions per unit of FCT and its subsidiaries for the financial year ending September 30, 2023.

An unrelated third parties completed the acquisition of 28.85% stake in Hektar Real Estate Investment Trust (KLSE:HEKTAR) from Frasers Centrepoint Trust (SGX:J69U) on December 6, 2023.