KUALA LUMPUR, July 27 -- Hibiki Path Advisors (Hibiki), having recently joined with over 50 fellow minority unitholders with collective ownership more than 12 per cent have submitted request to Accordia Golf Trust Management (AGTM) to convene an Extraordinary General Meeting (EGM).
The EGM was requested to be held on Aug 18, according to a statement.
Hibiki believes the items to be discussed in this EGM to be critical for all unitholders to make a well-informed judgment on the proposed divestment of all of its golf courses.
The agenda for the EGM has been summarised. Since Daiwa Securities Group (DSG) is a unitholder and vested interest party to the proposed Divestment, DSG will exclude itself from voting in the EGM and abstain from voting.
In addition, the AGTM shall make the pay out of the special reserve dividends of JPY 1.2 billion by or before Aug 28. (JPY 100 = RM4.020)
All minutes of the meeting of the Independent Committee shall be disclosed to the Unitholders, and AGTM should disclose to the unitholders the fee tables to DREAM and Accordia annually since inception.
In relation to the AGTM announcement on June 29 to recommend the unitholders the divestment of all of its golf courses to the Sponsor company at an indicative consideration per unit of US$0.732, Hibiki have declared publicly to vote against the proposed divestment if the price is not revised higher. (US$1 = RM4.254)
Hibiki hopes to continue its efforts to engage with as many non-conflicted minority unitholder groups as possible in order for them to make a well-informed independent judgment on the proposed divestment.
More details at www.hibiki-path-advisors.com.
-- BERNAMA
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