FEO Hospitality transfers stapled securities in Far East H-Trust to Golden Development

FEO Hospitality Asset Management Pte Ltd has transferred 550,000 stapled securities in Far East Hospitality Trust (Far East H-Trust ) to Golden Development Private Limited, a unit of Far East Organization Group and a substantial stapled securityholder of the trust.

On Friday, FEO Hospitality Asset Management announced that it had done so on Thursday, with each stapled security comprising one unit in Far East Hospitality Real Estate Investment, and one unit in Far East Hospitality Business Trust.

The stapled securities transferred are priced at S$0.6985 each.

The company holds an aggregate of about 56 million stapled securities, or 3.02 per cent, in Far East H-Trust, and the total number of Far East H-Trust stapled securities in issue remains at about 1.9 billion as at Dec 8.

The price per stapled security was based on the volume weighted average price for a stapled security of Far East H-Trust on the Singapore Exchange for 10 business days between Nov 9, 2017 and Nov 22, 2017.

Far East H-Trust resumed trading unchanged on Friday afternoon at S$0.705 as at 1.04pm.