The extraordinary general meetings (EGMs) of ESR-Reit and Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) for their proposed merger are expected to fall on Dec 4.

Sabana Reit's scheme meeting will also be held on the same day, the managers of both Reits said in a joint statement yesterday.

The meetings will take place after ESR-Reit's circular and Sabana Reit's scheme document have been issued on a date estimated to be Nov 12.

Meanwhile, the second court hearing for the approval of Sabana Reit's scheme is expected to fall on Dec 21.

The Securities Investors Association (Singapore) will organise dialogue sessions with unit holders before the two EGMs and scheme meeting and after the issue of the ESR-Reit circular and Sabana Reit scheme document.

The dialogue sessions will take place via live webcast and allow both retail and institutional investors to pose questions and seek clarification on the proposed merger. Once the sessions are confirmed, ESR-Reit and Sabana Reit unit holders will receive invitations to their respective sessions.

ESR-Reit's manager said in a separate announcement that it received approval in-principle from the Singapore Exchange (SGX) on Tuesday for the listing and quotation of about 989.9 million new units with respect to the proposed merger.

The in-principle approval is subject to compliance with the SGX's listing requirements, ESR-Reit unit holder approval for the merger and the issue of the new units, as well as approval from the Singapore High Court for the implementation of Sabana Reit's scheme.

The SGX's approval in-principle is not to be taken as an indication of the merits of the merger, the consideration units, ESR-Reit and/or its subsidiaries, the manager said.

THE BUSINESS TIMES