First REIT Receives Non-Binding Proposal On Rental Restructuring
September 21, 2020 – First REIT Management Limited announced that it has received a non-binding proposal regarding the proposed rental restructuring from PT Lippo Kawaraci Tbk (LPKR).
The proposed rental restructuring was initiated in June with process with LPRK Fwith regard to its significant rental support in light of the disruptions caused by the pandemic.
The Board of the Manager has set up an independent board committee comprising all the independent directors of the Board, namely, Mr Chan Pengee Adrian, Mr Ferris Charles Bye, Mr Tan Chuan Lye and Mr Martin Lechner to carefully consider and evaluate the Non-Binding Proposal.
In arriving at a decision in respect of any proposed rental restructuring, the Independent Committee will consult its advisers and will act in the best interests of First REIT.
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