Revised Cash Offer for Suntec REIT Units Sparks Investor Attention

Key Highlights:

• Aelios Pte. Ltd. has increased its offer price to S\$1.19 per unit for Suntec Real Estate Investment Trust (Suntec REIT).
• The closing date for the mandatory conditional cash offer has been extended to 5:30 PM on February 3, 2025.
• Aelios Pte. Ltd. and its concert parties now control 33.32% of total issued units in Suntec REIT.

Details of the Revised Offer

Aelios Pte. Ltd., through its joint financial advisers United Overseas Bank Limited (UOB) and DBS Bank Ltd., has revised the cash offer price for Suntec REIT units to S\$1.19 per unit. This represents the revised price for acquiring all issued and outstanding units not already owned or controlled by Aelios and its concert parties.

The offer remains conditional and subject to the terms outlined in the offer document dated December 23, 2024. Unitholders who have already accepted the original offer price will automatically receive the revised amount, with no further action required.

Extension of Closing Date

The closing date for the offer has been extended from January 20, 2025, to February 3, 2025, allowing unitholders additional time to evaluate and accept the revised offer. This extension ensures compliance with Rule 20.1 of the Singapore Code on Take-overs and Mergers.

Current Holdings and Acceptances

As of January 8, 2025, Aelios and its concert parties collectively own, control, or have agreed to acquire 33.32% of the total issued units in Suntec REIT, amounting to 973,423,793 units. This figure includes:

• 945,632,451 units (32.37%) held before the offer period as of December 5, 2024.
• 20,787,800 units (0.71%) acquired through open market purchases during the offer period.
• 7,003,542 units (0.24%) obtained through valid acceptances of the offer.

Procedures for Acceptance

Unitholders who have not yet accepted the offer may do so by submitting the relevant acceptance forms. Existing forms sent with the original notification letter are still valid for use at the revised price. Additionally, CPFIS and SRS investors will receive instructions from their respective agent banks on how to proceed.

Unitholders needing replacement forms or assistance can contact The Central Depository (Pte) Limited or Boardroom Corporate & Advisory Services Pte. Ltd. for support. Overseas unitholders may also request documents to be sent to a Singapore address.

Financial Assurance

United Overseas Bank Limited and DBS Bank Ltd. have confirmed that Aelios Pte. Ltd. has sufficient financial resources to satisfy full acceptance of the offer at the revised price.

Impact on Shareholders and Market Sentiment

The revised offer price and extended timeline are key developments that could influence investor sentiment and share prices for Suntec REIT. The increase in the offer price to S\$1.19 per unit reflects the Offeror’s commitment to acquiring further units, potentially signaling confidence in the underlying value of Suntec REIT. Shareholders are advised to closely monitor market movements and take prompt action if they wish to capitalize on the revised offer.

Disclaimer

This article is for informational purposes only and does not constitute financial advice. Shareholders and investors are encouraged to consult professional advisers before making any decisions related to the offer. The information herein is derived from the official announcement dated January 8, 2025, and is subject to change based on subsequent updates.