News Formal

OUE C-Reit unitholders approve merger; OUE H-Trust to hold EGM at 3pm on Wednesday

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

UNITHOLDERS of OUE Commercial Reit (C-Reit) on Wednesday approved the trust’s proposed merger with OUE Hospitality Trust (H-Trust), while stapled securityholders of H-Trust are set to vote on the deal later in the afternoon. Read more at The Business Times.

In the morning before the market opened, C-Reit, H-Trust and their parent company OUE Limited all called for immediate trading halts, pending the release of announcements on both EGMs’ results.by paying the latter’s holders, for every H-Trust stapled security held, 4.075 Singapore cents in cash plus 1.3583 new OUE C-Reit units.

Deloitte & Touche, the IFA for C-Reit, said the merger is based on normal commercial terms and will not be prejudicial to the interests of C-Reit and its minority unitholders. Directors of H-Trust thus recommended stapled securityholders vote in favour of the trust deeds amendment resolutions at the upcoming EGM, and the trust scheme resolution at the trust scheme meeting.OUE Limited and its related corporations will continue to hold a 48.4 per cent stake in the enlarged Reit. This is inclusive of the interests held by OUE Limited, OUE Realty and Golden Concord Asia Limited.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trading halts for OUE Limited, C-Reit, H-Trust pending EGMs on proposed mergerUNITHOLDERS of OUE Commercial Reit (C-Reit) and OUE Hospitality Trust (H-Trust) are set to vote on the two trusts’ proposed merger at their separate extraordinary general meetings (EGMs) on Wednesday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Stocks to watch: Wilmar, Yanlord Land, OUE, Manulife US Reit, Metro, BreadTalkTHE following companies saw new developments that may affect trading of their shares on Wednesday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Trading halts for OUE Limited, C-Reit, H-Trust pending EGMs on proposed mergerUNITHOLDERS of OUE Commercial Reit (C-Reit) and OUE Hospitality Trust (H-Trust) are set to vote on the two trusts’ proposed merger at their separate extraordinary general meetings (EGMs) on Wednesday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Stocks to watch: Wilmar, Yanlord Land, OUE, Manulife US Reit, Metro, BreadTalkTHE following companies saw new developments that may affect trading of their shares on Wednesday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »