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New substantial unitholder appears at Sabana REIT

Goola Warden Published on Fri, Mar 03, 2017 / 8:05 PM GMT+8

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SINGAPORE (March 3): A new substantial unitholder has emerged at Sabana Shari’ah Compliant Real Estate Investment Trust, which could shift the dynamics of a revolt that a group of small investors have waged against the manager of the REIT over the past month.

According to filings posted on SGXNet on March 3, e-Shang Redwood (ESR) now holds a 5.01% stake in Sabana REIT.

Less than a month ago, on Feb 6, a group of 66 unitholders of Sabana REIT requisitioned an extraordinary general meeting.

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