Singapore REIT

Ascott REIT Unitholders Approve Ascendas Acquisition

The Ascott Reit Manager announced that at the EGM and the Ascott Reit Scheme Meeting, the resolutions relating to the following matters as set out in the Notice of Extraordinary General Meeting dated 26 September 2019 and the Notice of Ascott Reit Scheme Meeting dated 26 September 2019 have been duly passed by the Ascott Reit Unitholders.

On 3 July 2019, the board of directors of Ascott Residence Trust Management Limited, as manager of Ascott Residence Trust, announced the proposed combination of Ascott Reit and Ascendas Hospitality Trust (A-HTRUST) to be effected through the acquisition by Ascott Reit of all the A-HTRUST Stapled Units for an aggregate consideration of S$1.0868 for each A-HTRUST Stapled Unit, comprising S$0.0543 in cash and 0.7942 Ascott Reit-BT Stapled Units.

Read more…