SoilbuildBizREIT   

SOILBUILD BUSINESS SPACE REIT

Received via normal mail. Voted against for all resolutions and sent out both proxy form A & B with envelope provided. 

 

I got notified by DBS online.

djinthehouse      ( Date: 19-Feb-2021 11:39) Posted: Have not received the notifcation. Received via post and voted via CDP? alexba      ( Date: 19-Feb-2021 00:57) Posted: Voting has started. I have received my notification and voted. You will be voting for 2 resolutions. Check your CDP or custodian accounts.  All the best for all of us

 

Voting started or soon mid Feb - hope it will not go through

RickyCheng      ( Date: 19-Feb-2021 09:55) Posted: Ya, IPO price 78c somemore.  One of the opportunists.    kwwongm      ( Date: 18-Feb-2021 10:48) Posted: A good reit will be trading at 1.5x P/NAV value...therefore offer price should be at this range @0.82 cents. The independent advisor hv cognitive bias

 

Have not received the notifcation. Received via post and voted via CDP?

alexba      ( Date: 19-Feb-2021 00:57) Posted: Voting has started. I have received my notification and voted. You will be voting for 2 resolutions. Check your CDP or custodian accounts.  All the best for all of us. alexba      ( Date: 18-Feb-2021 23:22) Posted: 75% of the votes are required. Please see page 24 of the slide deck below. https://soilbuildreit.listedcompany.com/newsroom/20201214_081530_SV3U_K4J5Y0VRKMKY685G.4.pdf

 

Ya, IPO price 78c somemore.  One of the opportunists.   

kwwongm      ( Date: 18-Feb-2021 10:48) Posted: A good reit will be trading at 1.5x P/NAV value...therefore offer price should be at this range @0.82 cents. The independent advisor hv cognitive bias. Joelton      ( Date: 18-Feb-2021 09:59) Posted: Soilbuild Reit' s independent adviser says S$0.55 per unit offer is ' fair and reasonable'   AS Soilbuild Business Space Reit' s (Soilbuild Reit) appointed independent financial adviser, KPMG said the offer to take the Reit private at S$0.55 per unit is " fair and reasonable" , and recommended the Reit' s independent directors to advise unitholders to vote in favour of the scheme of arrangement.   Since the Reit declared a Q4 distribution of 1.194 Singapore cents per unit, the scheme consideration has been adjusted to 53.806 cents per unit.   The Reit manager said that the adjusted scheme consideration implied a price to net asset value (P/NAV) multiple of 0.96 to 0.99 times, which exceeds the historical pre-Covid-19 P/NAV trading multiples of the Reit' s units.   Following the announcement made via a scheme document sent electronically on Wednesday, an extraordinary general meeting will be held virtually on March 11 at 2pm, while the scheme meeting will take place at 2.30pm on the same day.   If the transaction is approved by unitholders at the scheme meeting, it is expected to become effective by March 31.   To recap, Soilbuild Group Holdings' executive chairman Lim Chap Huat and Blackstone Real Estate made an offer to take the Reit private with a scheme consideration of S$0.55 per unit in December last year.   At the time of the announcement, the offer represented a premium of about 34.5 per cent, 34.8 per cent, 53.2 per cent and 29.1 per cent over the volume-weighted average price per Soilbuild Reit unit respectively for the one-month, three-month, six-month and 12-month period up to and including Aug 31.   The offeror added that the scheme consideration would be reduced by any amount of distribution declared, made or paid by the manager in respect of the period from Oct 1, 2020 to March 31, 2021. (see amendment note)   In conjunction with the trust scheme, Soilbuild Reit has also entered into an agreement with related entities of Blackstone to dispose of its Australian assets.   The disposal is however pending approval from unitholders.    Analysts were largely positive on the offer shortly after it was announced, with Jefferies analyst Krishna Guha calling the offer price " fair" compared to the Reit' s book value.

 

Voting has started. I have received my notification and voted.

You will be voting for 2 resolutions. Check your CDP or custodian accounts. 

All the best for all of us.

alexba      ( Date: 18-Feb-2021 23:22) Posted: 75% of the votes are required. Please see page 24 of the slide deck below. https://soilbuildreit.listedcompany.com/newsroom/20201214_081530_SV3U_K4J5Y0VRKMKY685G.4.pdf   kwwongm      ( Date: 10-Jan-2021 18:35) Posted: Not sure what the percentage vote soilbuild needs in order to privatise it...believe many institution will reject this as well..

 

Good for you. Anyone that had sold before the 2020 March crash and bought at the bottom doubled their money. 

kwwongm      ( Date: 18-Feb-2021 23:34) Posted: I bought last year @ different price tranche 0.35, 0.4, 0.55....they kickout cwt sponsor..now is with logos. alexba      ( Date: 18-Feb-2021 23:14) Posted: Congratulations! ARA LOGOS is the only SREIT that matches the criteria, yet the DPU has declined %32 and the stock price declined %12 in the last 5 years. Our capital has eroded, and we receive substantially less dividends now. Should we call this a good REIT?  Bonds seem to be a better investment. Although I heavily invest into SREITs, I started moving away from them due to ever declining DPUs and financing risks involve

 

I bought last year @ different price tranche 0.35, 0.4, 0.55....they kickout cwt sponsor..now is with logos.

alexba      ( Date: 18-Feb-2021 23:14) Posted: Congratulations! ARA LOGOS is the only SREIT that matches the criteria, yet the DPU has declined %32 and the stock price declined %12 in the last 5 years. Our capital has eroded, and we receive substantially less dividends now. Should we call this a good REIT?  Bonds seem to be a better investment. Although I heavily invest into SREITs, I started moving away from them due to ever declining DPUs and financing risks involved kwwongm      ( Date: 18-Feb-2021 19:08) Posted: Is ara logos logistic fit in to the criteria

 

This Ah LIm huh.... hiaz... Soibuild holdings last time now SB Reit... Those listed for a second time better not buy in the first place.

 

75% of the votes are required. Please see page 24 of the slide deck below.
https://soilbuildreit.listedcompany.com/newsroom/20201214_081530_SV3U_K4J5Y0VRKMKY685G.4.pdf
 

kwwongm      ( Date: 10-Jan-2021 18:35) Posted: Not sure what the percentage vote soilbuild needs in order to privatise it...believe many institution will reject this as well... Hawkeye      ( Date: 10-Jan-2021 18:01) Posted: Well Soil Build is trying to short change investors taking advantage of Pandemic. Valuation should follow pre-pandemic value of 65ct

 

Congratulations! ARA LOGOS is the only SREIT that matches the criteria, yet the DPU has declined %32 and the stock price declined %12 in the last 5 years. Our capital has eroded, and we receive substantially less dividends now. Should we call this a good REIT? 

Bonds seem to be a better investment.

Although I heavily invest into SREITs, I started moving away from them due to ever declining DPUs and financing risks involved

kwwongm      ( Date: 18-Feb-2021 19:08) Posted: Is ara logos logistic fit in to the criteria? alexba      ( Date: 18-Feb-2021 18:30) Posted: Do you know any SREIT with  1.5x P/NAV    and yield greater than 7%

 

Waah if go Pte lost money, hope it dont go through

 

Is ara logos logistic fit in to the criteria?

alexba      ( Date: 18-Feb-2021 18:30) Posted: Do you know any SREIT with  1.5x P/NAV    and yield greater than 7%? kwwongm      ( Date: 18-Feb-2021 10:48) Posted: A good reit will be trading at 1.5x P/NAV value...therefore offer price should be at this range @0.82 cents. The independent advisor hv cognitive bias

 

Do you know any SREIT with  1.5x P/NAV    and yield greater than 7%?

kwwongm      ( Date: 18-Feb-2021 10:48) Posted: A good reit will be trading at 1.5x P/NAV value...therefore offer price should be at this range @0.82 cents. The independent advisor hv cognitive bias. Joelton      ( Date: 18-Feb-2021 09:59) Posted: Soilbuild Reit' s independent adviser says S$0.55 per unit offer is ' fair and reasonable'   AS Soilbuild Business Space Reit' s (Soilbuild Reit) appointed independent financial adviser, KPMG said the offer to take the Reit private at S$0.55 per unit is " fair and reasonable" , and recommended the Reit' s independent directors to advise unitholders to vote in favour of the scheme of arrangement.   Since the Reit declared a Q4 distribution of 1.194 Singapore cents per unit, the scheme consideration has been adjusted to 53.806 cents per unit.   The Reit manager said that the adjusted scheme consideration implied a price to net asset value (P/NAV) multiple of 0.96 to 0.99 times, which exceeds the historical pre-Covid-19 P/NAV trading multiples of the Reit' s units.   Following the announcement made via a scheme document sent electronically on Wednesday, an extraordinary general meeting will be held virtually on March 11 at 2pm, while the scheme meeting will take place at 2.30pm on the same day.   If the transaction is approved by unitholders at the scheme meeting, it is expected to become effective by March 31.   To recap, Soilbuild Group Holdings' executive chairman Lim Chap Huat and Blackstone Real Estate made an offer to take the Reit private with a scheme consideration of S$0.55 per unit in December last year.   At the time of the announcement, the offer represented a premium of about 34.5 per cent, 34.8 per cent, 53.2 per cent and 29.1 per cent over the volume-weighted average price per Soilbuild Reit unit respectively for the one-month, three-month, six-month and 12-month period up to and including Aug 31.   The offeror added that the scheme consideration would be reduced by any amount of distribution declared, made or paid by the manager in respect of the period from Oct 1, 2020 to March 31, 2021. (see amendment note)   In conjunction with the trust scheme, Soilbuild Reit has also entered into an agreement with related entities of Blackstone to dispose of its Australian assets.   The disposal is however pending approval from unitholders.    Analysts were largely positive on the offer shortly after it was announced, with Jefferies analyst Krishna Guha calling the offer price " fair" compared to the Reit' s book value.

 

A good reit will be trading at 1.5x P/NAV value...therefore offer price should be at this range @0.82 cents. The independent advisor hv cognitive bias.

Joelton      ( Date: 18-Feb-2021 09:59) Posted: Soilbuild Reit' s independent adviser says S$0.55 per unit offer is ' fair and reasonable'   AS Soilbuild Business Space Reit' s (Soilbuild Reit) appointed independent financial adviser, KPMG said the offer to take the Reit private at S$0.55 per unit is " fair and reasonable" , and recommended the Reit' s independent directors to advise unitholders to vote in favour of the scheme of arrangement.   Since the Reit declared a Q4 distribution of 1.194 Singapore cents per unit, the scheme consideration has been adjusted to 53.806 cents per unit.   The Reit manager said that the adjusted scheme consideration implied a price to net asset value (P/NAV) multiple of 0.96 to 0.99 times, which exceeds the historical pre-Covid-19 P/NAV trading multiples of the Reit' s units.   Following the announcement made via a scheme document sent electronically on Wednesday, an extraordinary general meeting will be held virtually on March 11 at 2pm, while the scheme meeting will take place at 2.30pm on the same day.   If the transaction is approved by unitholders at the scheme meeting, it is expected to become effective by March 31.   To recap, Soilbuild Group Holdings' executive chairman Lim Chap Huat and Blackstone Real Estate made an offer to take the Reit private with a scheme consideration of S$0.55 per unit in December last year.   At the time of the announcement, the offer represented a premium of about 34.5 per cent, 34.8 per cent, 53.2 per cent and 29.1 per cent over the volume-weighted average price per Soilbuild Reit unit respectively for the one-month, three-month, six-month and 12-month period up to and including Aug 31.   The offeror added that the scheme consideration would be reduced by any amount of distribution declared, made or paid by the manager in respect of the period from Oct 1, 2020 to March 31, 2021. (see amendment note)   In conjunction with the trust scheme, Soilbuild Reit has also entered into an agreement with related entities of Blackstone to dispose of its Australian assets.   The disposal is however pending approval from unitholders.    Analysts were largely positive on the offer shortly after it was announced, with Jefferies analyst Krishna Guha calling the offer price " fair" compared to the Reit' s book value.

 

 

SB has been going down since mid-2017. Capital loss has been greater than the dividends. $0.55 is likely to be accepted as shareholders may prefer to get out instead of losing more.

 

Waah! like tat if no $0.55 we loose lar? 

djinthehouse      ( Date: 31-Jan-2021 07:47) Posted: Understand the buy back price included dividend hence buy back price would be less than 0.55 in consideration of Q1 dividend at least. Given NAV is 0.55 this is certainly shortcharge for retail investors hopefully this will get rejected by retail investors.

 

Not many good s-reit left.
Selling soilbuild reit, unitholders would losses years of dpu stream.

 

Understand the buy back price included dividend hence buy back price would be less than 0.55 in consideration of Q1 dividend at least. Given NAV is 0.55 this is certainly shortcharge for retail investors hopefully this will get rejected by retail investors.