ILAM Fahari I-REIT Unitholders EGM Approves Proposed Operational Restructuring

27/11… ILAM Fahari Real Estate Investment Trust (NSE: FAHR) unitholders have approved the proposed operational restructuring and the delisting of the REIT from the main investment market segment of the Nairobi Securities Exchange (NSE).

The unitholders approved all the resolutions recommended by the REIT Manager and approved by the Trustee during an Extraordinary General Meeting (EGM) held last Friday (November 24th).

Among the adopted resolutions were the approval of the proposed conversion of ILAM Fahari I-REIT from an unrestricted to a restricted I-REIT (93.09%), the delisting of the REIT from the NSE (92.95%), the quotation of the REIT units on the Unquoted Securities Platform (USP) managed by NSE (92.95%), and the authorization of ICEA LION Asset Management (ILAM) and the Co-operative Bank of Kenya as the Manager and Trustee of ILAM Fahari I-REIT to take all the necessary actions for the conversion and delisting (92.97%).

Read the full Press release here