SINGAPORE – Dasin Retail Trust Management, the trustee-manager of Dasin Retail Trust, will hold an extraordinary general meeting (EGM) by Jan 22, 2024, in relation to a requisition notice served by a group of 15 investors.

The requisition notice has to do with the investors’ plan to replace the current trustee-manager with a newly incorporated internal one. The new entity will be wholly owned by all unit holders of Dasin Retail Trust.

On behalf of this group, unit holder Tao Naiqun had said in a letter, issued in November, that the minority investors were seeking to convene an EGM to approve the internalisation “as a matter of urgency”.

This was because the trustee-manager’s major shareholder, Sino-Ocean Capital, remains subject to a creditors’ winding-up petition to be heard on March 27, 2024.

Notice of the EGM and details of the meeting will be sent to unit holders once the current trustee-manager has verified the unit holding of the requisitionists whose holdings are registered in the name of nominee companies.

Units of Dasin Retail Trust closed 0.1 cent, or 1.9 per cent, higher at 5.3 cents on Dec 14 before the announcement. THE BUSINESS TIMES