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Alrready voted?
Not sure why the resolution was approved. Thought need 75% of the votes but was approved with less than 60% of those voted yes and also only 500 plus voted. Haizz..
yes vote no..... all in all yes broke even but is not a fair value to our holdings... who got during IPO?
over the years whats the div they had given out per share?
I think if they win they just pay you $0.53806, tats all
So vote noooo
So vote noooo
numbertwo ( Date: 09-Mar-2021 10:58) Posted:
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Hi all,
what will happen if i do not vote, and i do not sell now , will my share be sold in SGX automatically if the deal is done ?
Thanks.
what will happen if i do not vote, and i do not sell now , will my share be sold in SGX automatically if the deal is done ?
Thanks.
Sias reminds unitholders of Soilbuild Reit to take action
IN LESS than a week, unitholders of Soilbuild Business Space Reit will have to vote on a proposed privatisation offer from Blackstone Real Estate and the executive chairman of the Reit' s sponsor, Soilbuild Group, Lim Chap Huat.
The offer is via a trust scheme of arrangement, which means its outcome will be determined by minorities. Mr Lim and his concert parties will abstain from voting.
Here is a brief summary of the relevant issues.
The rationale
The offerors have said the Reit' s high yield has hampered its ability to grow via yield-accretive acquisitions. The Reit' s asset base has grown 1.5 times since its 2013 listing even as the average industrial S-Reit is 1.8 times larger.
When Soilbuild Reit last raised money, for an acquisition in Australia, its preferential issue of units was only 82 per cent subscribed despite being priced at an 8.4 per cent discount.
The offer price
If the trust scheme is approved, unitholders will receive S$0.53806 per unit. This is based on the offer price adjusted for a distribution announced in January.
This price represents a premium of 49.9 per cent to the 6-month volume weighted average price of Soilbuild Reit up to and including Aug 31, 2020, being the last full trading day before the initial holding announcement on Sept 4.
The offer price is almost 0.99 time the Reit' s net asset value (NAV).
Some unitholders have objected that the offer price is much lower than the Reit' s IPO price of S$0.78.
Since its listing, Soilbuild Reit has paid a total of S$0.40 per unit in distributions.
The IFA' s recommendation
The advice from the independent financial advisor, KPMG, is that the offer is both fair and reasonable.
Unitholders will need to submit their votes via proxy at least 48 hours before the Extraordinary General Meetings and Scheme Meeting, both of which are to be convened and held on Thursday, March 11.
As is the case with all privatisations, the Securities Investors Association (Singapore) urges minority Soilbuild Reit unitholders to familiarise themselves with the features of the offer and to make up their own minds when casting their votes. But vote they must, in order to make their preference known.
Will be less than 0.53 in consideration of Q2 dividend.
Ysw1988 ( Date: 26-Feb-2021 23:20) Posted:
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Confirmed vote noooo
Min offer above $0.65 cents
omgitsicebear ( Date: 26-Feb-2021 20:15) Posted:
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omgitsicebear ( Date: 26-Feb-2021 20:15) Posted:
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Mail dated 25 Feb states that the adjusted scheme consideration is $0.53806...
Icebear says No to the hypocrisy! Now gimme a Ice Cold Beer!
if they abort the deal the REIT would probably focus on AEIs and wait to ride an upswing in rents and occupancy which is bound to happen post Covid and with the recovery in oil & gas fundamentals. So I see price rising to 65 or 70 cents anyway in the next 2-3 years. Meanwhile you can collect dividends since a REIT is obliged to pay them
Ysw1988 ( Date: 24-Feb-2021 07:50) Posted:
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Precisely, I bought at 70cents. Thanks for reassuring.
alexba ( Date: 23-Feb-2021 22:44) Posted:
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May I know what would happen if they abort the deal?
LionInvestments ( Date: 22-Feb-2021 22:15) Posted:
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The offer is way too low. Most of us paid around $0.700 for the shares. The offer and all reports simply ignore that fact.
AUD is recovering and it went up by %6.7 in the last 3 months. This is not accounted for in the offer at all, instead, the offer is written up for deducting our last dividend income.
I VOTED NO to all resolutions! Timing is bad bad bad...
Let Australia and Singapore recover from Covid19.
Let AUD go back to its previous glorious days.
Let' s enjoy the improving conditions and keep collecting increasing dividends.
AUD is recovering and it went up by %6.7 in the last 3 months. This is not accounted for in the offer at all, instead, the offer is written up for deducting our last dividend income.
I VOTED NO to all resolutions! Timing is bad bad bad...
Let Australia and Singapore recover from Covid19.
Let AUD go back to its previous glorious days.
Let' s enjoy the improving conditions and keep collecting increasing dividends.
just received via post. Voted against to both form A and B
This is a lowball offer at bottom of the market even Mr Lim is not selling his shares, just parking them in a vehicle together with Blackstone.
If Blackstone is interested and Lim is not selling it is definitely worth more...
Definitely vote against and try to make them increase the price, at least to fair value around 65 cents There is a risk that they will abort the deal, but there is a good chance that price will go higher in a year or 2 when rental market gradually recovers post Covid. Meanwhile you can continue to get a reasonable distribution.
Not so easy to reinvest your money in a REIT with similar risk and similar forward yield.
If Blackstone is interested and Lim is not selling it is definitely worth more...
Definitely vote against and try to make them increase the price, at least to fair value around 65 cents There is a risk that they will abort the deal, but there is a good chance that price will go higher in a year or 2 when rental market gradually recovers post Covid. Meanwhile you can continue to get a reasonable distribution.
Not so easy to reinvest your money in a REIT with similar risk and similar forward yield.
cobrajr ( Date: 22-Feb-2021 08:03) Posted:
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Do we have a chance of getting more if all against?
Hmm I just received in the letterbox. I bought it years ago at above 60 cents. Friend recommended and I am not very familiar with all these procedures...looking at the situation, what should I do now? Seems that it's a huge loss eh? Vote against and hope it will increase?