Summary of the Resolution Approving the Change of Fund’s Investment Policy, Fund’s Name, Objective, Category including relevant information of Principal Property Income Fund (PRINCIPAL iPROP)

Summary of the Resolution Approving the Change of Fund’s Investment Policy, Fund’s Name, Objective, Category including relevant information of Principal Property Income Fund (PRINCIPAL iPROP)

Attention:     Unitholders

As Principal Asset Management Co., Ltd. (“Management Company”) sent the letter dated 25 February 2019, regarding to seek for the Resolution Approving the Change of Fund’s Investment Policy, Fund’s Name, Objective, Category, including Relevant Information , and the letter dated 26 March 2019, regarding to the extension of the exercise of the right to vote for the Resolution Approving the Change of Fund’s Investment Policy, Fund’s Name, Objective, Category, including Relevant Information  of Principal Property Income Fund (PRINCIPAL iPROP) according to the details as acknowledged by the Unitholders.

In order to ask for such resolution, the Management Company must take action to have the majority votes of the Unitholders which are calculated according to number of investment units altogether exceeding a half of the Fund’s all investment units having been sold. In addition, in case of the Fund whose investment units are classified (Share Class), there must be the resolution of the Unitholders who hold each share class of investment units exceeding a half of each class of investment units for change of Fund’s investment Policy, Fund’s name, objective, Category including relevant information of the Fund where the Unitholders must return the document of resolution or must exercise their right to vote via E-Voting system within 31 May 2019 according to the details as acknowledged by the Unitholders.

The Management Company would like to notify the result on asking for resolution of the Unitholders of the Fund as follows:

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Based on the above-mentioned result of resolution, the resolution does “not pass” because the Unitholders approved the resolution less than a half of the total number of investment units and the Unitholders approved the resolution less than a half of the number of investment units of each Share Class. As a result, the Fund’s investment policy, Fund’s name, objective, Category including relevant information of Principal Property Income Fund have remained the same without any change.

Please be informed accordingly. If any Unitholder would like to have more information, please contact Principal Asset Management Co., Ltd, Client Services Department, Tel. No. 0-2686-9595 on every business day.
 

 

                                                                                                Yours sincerely,
                                                                                               Principal Asset Management Co., Ltd.

 

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