Dasin Retail Trust has entered into a non-binding memorandum of understanding for the sale of two properties, Shiqi Metro-Mall and Xiaolan Metro-Mall.

Incorporated in PRC, the Purchaser is a buyout fund with institutional and private investors and will be managed jointly by GSUM Real Estate Fund Management Co., Ltd. and a subsidiary of Sino-Ocean Capital Holding Limited. Sino-Ocean Capital Holding Limited is a substantial unitholder of the Trust via its affiliate, Glory Class Ventures Limited, which holds approximately 6.3% of the Trust as at 18 March 2022.

The terms of the Put Option and the Proposed Divestment (including the price) are subject to discussions between the Trustee-Manager (in its capacity as trustee-manager of Trust) and the Purchaser