What? So close to 75%.. what t

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DavienX
2022-09-13

What? So close to 75%.. what the heck are the shareholders doing??

Singapore Stocks To Watch: Frasers Centrepoint Trust, Frasers Hospitality Trust, Memories Group

THE following companies saw new developments that may affect trading of their securities on Tuesday

Singapore Stocks To Watch: Frasers Centrepoint Trust, Frasers Hospitality Trust, Memories Group

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So close to 75%.. what the heck are the shareholders doing??","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/9935379229","repostId":1192718838,"repostType":4,"repost":{"id":"1192718838","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1663030427,"share":"https://www.laohu8.com/m/news/1192718838?lang=&edition=full","pubTime":"2022-09-13 08:53","market":"sg","language":"en","title":"Singapore Stocks To Watch: Frasers Centrepoint Trust, Frasers Hospitality Trust, Memories Group","url":"https://stock-news.laohu8.com/highlight/detail?id=1192718838","media":"Tiger Newspress","summary":"THE following companies saw new developments that may affect trading of their securities on Tuesday ","content":"<html><head></head><body><p>THE following companies saw new developments that may affect trading of their securities on Tuesday (Sep 13):</p><p>Singapore Stocks To Watch: Frasers Centrepoint Trust, Frasers Hospitality Trust, Memories Group</p><p><a href=\"https://laohu8.com/S/J69U.SI\">Frasers Centrepoint Trust</a>: The manager of Frasers Centrepoint Trust (FCT) announced that it will be acquiring an additional 10% stake in Waterway Point for $132.3 million, raising its total stake in the mall to 50.0%.</p><p>Under the terms of this deal, HSBC Institutional Trust Services, as the trustee of FCT, will be acquiring from Sekisui House 10.0% of the total issued units of Sapphire Star Trust (SST), comprising 500,001 ordinary units and about 59.9 million redeemable preference units; and 10.0% of the issued share capital of FC Retail Trustee, which is the trustee-manager of SST. 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SST currently holds the retail units in Waterway Point, which is in Punggol.</p><p>The acquisition will increase FCT’s interest in each of SST and FCRT (and thereby FCT’s effective interest in Waterway Point) from currently 40.0% to 50.0%.</p><p><a href=\"https://laohu8.com/S/ACV.SI\">Frasers Hospitality Trust</a>: Frasers Hospitality Trust said on Monday a proposal to take the trust private in a $1.35 billion deal had fallen through due to the failure to get enough shareholder vote in favour of the deal.</p><p>Only 74.88 per cent of shareholder votes were cast in favour of the take-private resolution, compared with the 75 per cent required for the resolution to pass.</p><p>The offeror, a wholly owned subsidiary of Frasers Property, had earlier this year proposed to take the trust private through a trust scheme of arrangement.</p><p>Under the scheme, it would acquire all of the hospitality trust&#39;s stapled securities - other than those held by Frasers Property and its subsidiaries, and TCC Group Investments - at 70 cents each in cash, which is above book value.</p><p><a href=\"https://laohu8.com/S/1H4.SI\">Memories Group</a>: According to the bourse filing released after market close on Sept 12, Memories (2022) is offering the group’s shareholders a cash offer of 4.7 cents per share, or one new share in the capital of the offeror in lieu of cash.</p><p>It is not “currently contemplated” that the shares in the offeror will be listed on any securities exchange.</p><p>As at Sept 12, Yoma Strategic Investments (YSIL), a wholly-owned subsidiary of SGX-listed Yoma Strategic Holdings, which directly owns some 167.08 million shares in Memories Group, has given an irrevocable undertaking to Memories (2022). YSIL, whose stake amounts to 33.27% of Memories Group’s total share capital, has agreed to vote all of its shares in Memories in favour of the delisting resolution. The agreement to delist includes YSIL accepting the exit offer and receiving new shares in the offeror as consideration for its Memories shares.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"J69U.SI":"星狮地产信托","ACV.SI":"辉盛国际信托"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192718838","content_text":"THE following companies saw new developments that may affect trading of their securities on Tuesday (Sep 13):Singapore Stocks To Watch: Frasers Centrepoint Trust, Frasers Hospitality Trust, Memories GroupFrasers Centrepoint Trust: The manager of Frasers Centrepoint Trust (FCT) announced that it will be acquiring an additional 10% stake in Waterway Point for $132.3 million, raising its total stake in the mall to 50.0%.Under the terms of this deal, HSBC Institutional Trust Services, as the trustee of FCT, will be acquiring from Sekisui House 10.0% of the total issued units of Sapphire Star Trust (SST), comprising 500,001 ordinary units and about 59.9 million redeemable preference units; and 10.0% of the issued share capital of FC Retail Trustee, which is the trustee-manager of SST. SST currently holds the retail units in Waterway Point, which is in Punggol.The acquisition will increase FCT’s interest in each of SST and FCRT (and thereby FCT’s effective interest in Waterway Point) from currently 40.0% to 50.0%.Frasers Hospitality Trust: Frasers Hospitality Trust said on Monday a proposal to take the trust private in a $1.35 billion deal had fallen through due to the failure to get enough shareholder vote in favour of the deal.Only 74.88 per cent of shareholder votes were cast in favour of the take-private resolution, compared with the 75 per cent required for the resolution to pass.The offeror, a wholly owned subsidiary of Frasers Property, had earlier this year proposed to take the trust private through a trust scheme of arrangement.Under the scheme, it would acquire all of the hospitality trust's stapled securities - other than those held by Frasers Property and its subsidiaries, and TCC Group Investments - at 70 cents each in cash, which is above book value.Memories Group: According to the bourse filing released after market close on Sept 12, Memories (2022) is offering the group’s shareholders a cash offer of 4.7 cents per share, or one new share in the capital of the offeror in lieu of cash.It is not “currently contemplated” that the shares in the offeror will be listed on any securities exchange.As at Sept 12, Yoma Strategic Investments (YSIL), a wholly-owned subsidiary of SGX-listed Yoma Strategic Holdings, which directly owns some 167.08 million shares in Memories Group, has given an irrevocable undertaking to Memories (2022). YSIL, whose stake amounts to 33.27% of Memories Group’s total share capital, has agreed to vote all of its shares in Memories in favour of the delisting resolution. The agreement to delist includes YSIL accepting the exit offer and receiving new shares in the offeror as consideration for its Memories shares.","news_type":1},"isVote":1,"tweetType":1,"viewCount":144,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":55,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}