ILAM Fahari Income Real Estate Investment Trusts (ILAM Fahari I-REIT) is set to delist from the Main Investment Market Segment (MIMS) of the Nairobi Securities Exchange (NSE).
The delisting is set to take place on Monday February 12th 2024.
This follows the resolution by Unitholders of IFIR at an Extraordinary General Meeting (EGM) held on November 24th 2023 to delist and the subsequent approval of the delisting by the Capital Markets Authority (CMA).
The last day of trading of IFIR will be Friday 9th February 2024.
“IFIR is in the process of applying to have its securities admitted for trading over the counter on the Unquoted Securities Platform (“USP”) of the NSE. Further information will be communicated once approvals have been received,” ILAM Fahari stated in a notice.
“All unitholders of IFIR are asked to take note of the delisting.”
In November 2023, ILAM Fahari Real Estate Investment Trust unitholders 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 EGM.
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 per cent) and the delisting of the REIT from the bourse (92.95 per cent).