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(24-04-2017, 11:39 AM)zz... Wrote: [ -> ]wonder how they collected the dialogue money from so many unit holders, issuing new reits units to sias or collecting cash?

My guess is that SIAS and Sabana REIT Manager are splitting the bill. SIAS is non-profit but it also needs to balance its books to be sustainable and so i reckon the REIT Manager receives part of the bill, and then simply bills it as part of the costs of operating the REIT itself.
SIAS, the self-styled champion of minority shareholders’ rights, has spoken in BT on 24 Apr 17!!! Instead of speaking for the minority unitholders, he spoke for the Sabana Manager. Mr David Gerald wrote he fully understand the plight of the Manager as Sabana REIT, like all others, has been hit by a challenging leasing environment and weak macroeconomic conditions. Does Mr David Gerald know Sabana REIT lost $215m in the last three years while VIVA Industrial Trust made $75m in revaluation in the same period? Does he know that Sabana REIT’s quarterly DPU dropped by 71% since IPO but our borrowings has doubled?

Mr David Gerald highlighted the perils of removing the Manager and the orderly winding up of the Trust but at the same time he chose to ignore the incompetence of the Manager. BTH Centre, purchased by the Manager in 2012 at $61m, is now valued at $41m and only 31% occupied, yielding $1.9m gross rental income in 2016.

In the same tone as the Sabana Manager CEO, Mr David Gerald advised unitholders to wait for the recommendations of the strategic review to make an informed decision. Yet he chose not to question why the CEO is negotiating with Vibrant Group Ltd to sell his stake in the Manager (and Sabana REIT) before strategic review is completed.

Mr David Gerald is wrong. We must look backwards to know what is ahead. On 28 Apr 17, when unitholders vote, remember both the words of this Sabana Manager who lost $215m and the words of the man who introduced the Theory of Relativity to the world.

“Just because our approach didn’t work in the past, doesn’t mean it cannot work in the future” ….Sabana Manager

"Insanity is doing the same thing over and over again, but expecting different results”.... Albert Einstein
When we requisitioned for this EGM to remove the Sabana Manager, never in my wildest dream did I expect the biggest and most motivated opposition would come from an organization set up solely to safeguard and protect minority shareholders' rights.
(24-04-2017, 07:32 PM)ACTIVIST SPEAKS Wrote: [ -> ]When we requisitioned for this EGM to remove the Sabana Manager, never in my wildest dream did I expect the biggest and most motivated opposition would come from an organization set up solely to safeguard and protect minority shareholders' rights.
I never fear fighting for the common man: David Gerald

Elena Torrijos
SingaporeSceneJuly 28, 2011

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[Image: 630yahoo_davidgerald.jpg]

David Gerald stands tall as a champion for retail investors. (Yahoo!/Alan Lim)

More
[size=undefined][size=undefined]

As far as the president and CEO of the [url=http://www.sias.org.sg/]Securities Investors Association (Singapore) (SIAS), David Gerald, can remember, he's always liked defending the underdog.
Whether it was in the classroom or on the streets, Singapore's champion for retail investors would hold up his hand to take the side of those at a disadvantage. As president of the Law Society of the University of Singapore in 1968, he represented the cause of employees when the government was proposing laws that would affect employment and trade unions.[/size]

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https://sg.news.yahoo.com/blogs/singapor...07914.html
(24-04-2017, 07:42 PM)cfa Wrote: [ -> ]
(24-04-2017, 07:32 PM)ACTIVIST SPEAKS Wrote: [ -> ]When we requisitioned for this EGM to remove the Sabana Manager, never in my wildest dream did I expect the biggest and most motivated opposition would come from an organization set up solely to safeguard and protect minority shareholders' rights.
I never fear fighting for the common man: David Gerald

Elena Torrijos
SingaporeSceneJuly 28, 2011

[/url]
[Image: 630yahoo_davidgerald.jpg]

David Gerald stands tall as a champion for retail investors. (Yahoo!/Alan Lim)

More
[size=undefined][size=undefined]

As far as the president and CEO of the [url=http://www.sias.org.sg/]Securities Investors Association (Singapore) (SIAS), David Gerald, can remember, he's always liked defending the underdog.
Whether it was in the classroom or on the streets, Singapore's champion for retail investors would hold up his hand to take the side of those at a disadvantage. As president of the Law Society of the University of Singapore in 1968, he represented the cause of employees when the government was proposing laws that would affect employment and trade unions.[/size]

[/size]






https://sg.news.yahoo.com/blogs/singapor...07914.html

I guess......
“Just because I never fear fighting for the common man in the past, doesn’t mean I want to in the future” 
cannot rely on others to fight for self, 人要靠自己的
欲破曹公,须用火攻,万事俱备,只欠童风
The full article of David Gerald from BT. Unitholder and the manager are partners. What is the most valuable asset in a partnership? IMHO, trust is the one and pre-requisite to success. The EGM is the moment to determine the aggregate trust level from its unitholders, less of other factors.

Sabana Reit EGM: Is dismissing the manager the panacea?
http://www.businesstimes.com.sg/real-est...he-panacea
Dump Sabana shares and look for better REITs and trusts that provide reliable dividend streams and better shareholder value. It is more productive than fighting an incompetent management. Let Sabana wind up like Rickmers, or scoop up their shares at a larger discount when they finally cannot tolerate themselves and have to clean up their act.
Of course, everybody knows dumping the shares is easier. But this time, we decided to stay and fight.

"It is better to light a candle than curse the darkness"