For instance, independent directors must make up at least half of boards of Reit managers where unitholders do not have the right to appoint directors.
A trust scheme of arrangement is a"fair and equitable" way of effecting the merger, as it will provide a binary outcome -"all or nothing" - for the proposal, the manager added. Those abstaining from voting on the scheme are ESR-Reit's manager, its concert parties and the common substantial unitholders of both Reits - including ESR Cayman, which holds 20.88 per cent of Sabana; Chinese billionaire Tong Jinquan, who holds 3.3 per cent; Wealthy Fountain Holdings; and e-Shang Infinity Cayman.
The board of the Sabana manager also highlighted that the proposed merger was the only formal offer it had ever received.
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Should MAS, SGX RegCo weigh in on Sabana-ESR merger?THE Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) could be on the verge of getting drawn into the controversial proposed merger of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) and ESR-Reit, whose managers are both controlled by Hong Kong-listed ESR Cayman. Read more at The Business Times.
مصدر: BusinessTimes - 🏆 15. / 51 اقرأ أكثر »
Should MAS, SGX RegCo weigh in on Sabana-ESR merger?THE Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) could be on the verge of getting drawn into the controversial proposed merger of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) and ESR-Reit, whose managers are both controlled by Hong Kong-listed ESR Cayman. Read more at The Business Times.
مصدر: BusinessTimes - 🏆 15. / 51 اقرأ أكثر »
Singapore competition watchdog clears S Korean shipbuilders' mergerTHE Competition and Consumer Commission of Singapore (CCCS) has cleared the proposed merger between Korea Shipbuilding & Marine Engineering (KSOE) and Daewoo Shipbuilding & Marine Engineering (DSME). Read more at The Business Times.
مصدر: BusinessTimes - 🏆 15. / 51 اقرأ أكثر »