OUE C-Reit, H-Trust merger deal 'fair' and 'based on normal commercial terms': IFAs

THE independent financial advisers of OUE Commercial Reit and OUE Hospitality Trust have advised the directors of both trusts to recommend unitholders “vote in favour” of the merger at an upcoming extraordinary general meeting .by paying OUE H-Trust holders, for every OUE H-Trust stapled security held, S$0.04075 in cash plus 1.3583 new OUE C-Reit units.

Deloitte & Touche, the IFA of OUE C-Reit, said the merger is based on normal commercial terms and will not be prejudicial to the interests of OUE C-Reit and its minority unitholders.Directors of the company have thus recommended that OUE C-Reit unitholders vote in favour of resolution 1 which relates to the potential merger, and resolution 2 which relates to the proposed issuing of new OUE C-Reit units. If either resolution is rejected, the proposed merger will not go through.

The two EGMs are expected to take place on Aug 14 at Mandarin Orchard Singapore, at 10am for OUE C-Reit unitholders and 3pm for OUE H-Trust unitholders.

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