OUE H-Trust

[lonewolf]

Stabilising Action Day 18 (22 Aug)

5,000,000 units purchased at $0.86-$0.87

Total units purchased to date: 25,882,000
Total stabilising units left: 42,238,000

[KopiKat]

So fast... listed on 25-Jul and 30-days is up!
Closed @ $0.86 ; Range $0.86 to $0.87 ; Vol = 8,192,000 (Stabilising : 7,594,000 @ $0.86 to $0.865)

Form of Cessation of Stabilisation Announcement

[lonewolf]

Stabilising Action Day 19 (23 Aug)

7,594,000 units purchased at $0.86-$0.865

Total units purchased to date: 33,476,000
Total stabilising units left: 34,644,000

[AlphaQuant]

hmm, surprised that the trust refused the ROFR to Meritus Haikou and Shantou, but i guess they will have found problems raising cash to fund the purchase so soon after IPO.

http://infopub.sgx.com/FileOpen/Announce...eID=256807

[sgpunter]

This is a sign of good management. I'm sure management would be entitled to some fees if they decide to acquire the properties but after evaluation, they decided it is not in the interests of the Trust to do so. Well done. I have seen some other trusts whereby they will acquire aggressively to benefit from the fees not thinking about the long term impact for shareholders...

[lonewolf]

Actually its more like a wayang than good management on the part of OUE HT manager.

In the announcement, it is said that a 3rd party unsolicited offer was received by OUE for the 2 assets. And so of cos OUE has to go through the motion and honoured the ROFR it signed with OUE H-Trust.

[AlphaQuant]

Looks like OUE is reducing its stake of the trust with this distribution.
*************************

The EGM will also see OUE put to vote a proposal to distribute to its
shareholders one stapled trust it currently holds in its hospitality
Reit, OUE H‐Trust, for every six OUE shares held on the books closure
date.
If both resolu?ons pass, OUE's proposed distribu?on of OUE H‐Trust
stapled securi?es will amount to about $133.5 million, based on
151.7 million company‐held OUE H‐Trust stapled securi?es valued at
88 cents each.
This translates into a dividend of about 15 cents per share ‐ based on
the total number of issued shares in OUE, said the group.
The distribu?on represents about 25.6 per cent of the stapled
securi?es OUE holds in its hospitality Reit, OUE H‐Trust. This is about
11.6 per cent of the total number of stapled securi?es in OUE HTrust.

[kayhian]

OUE Hospitality Trust on Monday posted a distribution of $1.68 per stapled security for the first quarter ended March 31, 2014.

This is 4.3 per cent higher than the forecast of $1.61 for the three-month period, the trust said in its financial statement.

OUE Hospitality Trust comprises stapled securities from the OUE Hospitality Real Estate Investment Trust and OUE Hospitality Business Trust.

The firmer results came on the back of higher master-lease revenue from Mandarin Orchard Singapore.

[Ferns]

OUE Hospitality Trust on Monday posted a distribution of $1.68 per stapled security for the first quarter ended March 31, 2014.

1.68 cents you mean?

Gave me a shock when I saw $1.68.

That would have been really exciting!

[kagemusha]

lol $1.68, never seen a stock in SG paying so much dividend, especially since it is only trading at $0.87 now....