Tuesday, December 24th, 2024

Suntec REIT Mandatory Cash Offer: How to Accept and Important Instructions for Unitholders








Mandatory Cash Offer for Suntec REIT: What Shareholders Must Know

Mandatory Cash Offer for Suntec REIT: What Shareholders Must Know

Key Highlights:

  • Aelios Pte. Ltd. has launched a mandatory conditional cash offer to acquire all outstanding units in Suntec Real Estate Investment Trust (Suntec REIT).
  • The offer price is S\$1.16 in cash per unit, representing the consideration for each unit accepted under the offer.
  • The offer is being made through United Overseas Bank Limited (UOB) and DBS Bank Ltd. as joint financial advisers.
  • The offer excludes units already owned or controlled by the offeror or its concert parties.
  • The closing date for acceptance of the offer is set at 5:30 p.m. on 20 January 2025, unless extended by the offeror.

Details Shareholders Need to Know

This offer is part of a strategic move by Aelios Pte. Ltd. to acquire full control of Suntec REIT. Shareholders are advised to carefully review the terms and conditions outlined in the Offer Document that was issued on 23 December 2024.

Key considerations for shareholders include:

  • Irrevocable Acceptance: Once the Form of Acceptance and Transfer (FAT) is submitted, acceptance of the offer is final and binding, subject to the terms and conditions of the Offer Document.
  • Rights and Benefits: Accepted units must be fully paid and free from encumbrances. They will be transferred with all rights, dividends, and other entitlements declared after the offer announcement date.
  • Payment Timeline: If the offer becomes unconditional, payments will be made within seven business days of receipt of a valid acceptance.
  • Return of Units: If the offer lapses, unaccepted units and documents will be returned to shareholders within 14 days.

Potential Impact on Share Price

The offer price of S\$1.16 per unit may influence Suntec REIT’s market value, particularly for units trading on the Singapore Exchange. Shareholders should assess whether the offer represents fair value compared to current market prices and their investment goals. The offer’s success could also impact Suntec REIT’s operational strategy and future distributions.

Important Instructions for Shareholders

To accept the offer, shareholders must:

  1. Complete the FAT form provided, specifying the number of units tendered for acceptance.
  2. Sign the FAT and include all relevant documents, such as confirmation notes and transfer forms.
  3. Submit the completed FAT and documents to Aelios Pte. Ltd. c/o Boardroom Corporate & Advisory Services Pte. Ltd. either by hand or post, ensuring they arrive by the deadline of 5:30 p.m. on 20 January 2025.

Shareholders whose units are held on their behalf by The Central Depository (Pte) Limited (CDP) must use the Form of Acceptance and Authorisation (FAA) instead of the FAT to participate in the offer.

Risks and Disclaimers

Shareholders are reminded that all submissions are made at their own risk. No acknowledgement of receipt will be provided. Additionally, shareholders residing overseas should ensure compliance with the laws of their respective jurisdictions regarding participation in this offer.

Shareholders who are unable to locate their confirmation notes or other required documents should contact Boardroom Corporate & Advisory Services Pte. Ltd. immediately for assistance.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Shareholders are encouraged to consult their financial advisers or legal representatives before making any decisions regarding the offer. The author and publisher accept no liability for any actions taken based on this information.




View Suntec Reit Historical chart here



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