ESR-REIT - which proposed a merger with Sabana Shariah Compliant Industrial REIT on July 16 this year - has announced that it has received in-principle approval from SGX for the listing and quotation of approximately 989.9 million consideration units.

Separately, the managers of ESR-REIT and Sabana REIT also jointly provided an update on the indicative timeline of the Merger. The ESR-REIT circular and the Sabana REIT scheme document are expected to be issued on or around Nov 12. The ESR-REIT EGM and Sabana REIT’s EGM and Scheme Meeting are expected to be convened on Dec 4.

The Securities Investors Association (Singapore) (SIAS) has advised that it would like to organise dialogue sessions with unitholders prior to the EGMs and Scheme Meeting. The dialogue sessions will be conducted via live webcast, and will allow both retail and institutional unitholders to pose questions and seek clarification on the Merger, and will take place after the issue of the ESR-REIT circular and Sabana REIT scheme document. Unitholders of both REITs will receive an invitation to the respective dialogue sessions once the dialogue sessions have been confirmed.

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