Far East Hospitality Trust Issues New Stapled Securities For Its Distribution Reinvestment Plan
FEO Hospitality Asset Management Pte. Ltd., as manager of Far East Hospitality Real Estate Investment Trust and FEO Hospitality Trust Management Pte. Ltd., as trustee-manager (the “Managers”) of Far East Hospitality Business Trust wish to announce that further to the announcement dated 30 October 2019 in relation to the application of Far East Hospitality Trust’s (“Far East H-Trust”) distribution reinvestment plan (“DRP”) to the distribution of 1.04 Singapore cents per stapled security of Far East H-Trust (“Stapled Securities”) for the period from 1 July 2019 to 30 September 2019 (the “Distribution”), the issue price of the new Stapled Securities to be issued under the DRP in respect of the Distribution is S$0.7090 per Stapled Security.
The issue price represents a 2% discount to the volume-weighted average trading price per Stapled Security for all trades on Singapore Exchange Securities Trading Limited (the “SGX-ST”) for each of the Market Days1 during the period of 10 Market Days immediately prior to, and ending on, the books closure date on 7 November 2019 (the “Books Closure Date”).