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OUE Commercial Reit establishes distribution reinvestment plan
OUE Commercial Reit on Wednesday unveiled a distribution reinvestment plan (DRP), through which unitholders of OUE C-Reit may choose to receive distributions in the form of fully-paid new units, instead of cash.
This will enable unitholders to increase their unitholdings without incurring brokerage fees, stamp duties or other related costs, said the Reit.
The new plan will also enlarge OUE C-Reit's capital base and strengthen its working capital. Said the Reit: "To the extent that unitholders elect to receive distributions in the form of new units, the cash which would otherwise be payable by way of cash distributions may be retained to fund the growth and expansion of OUE C-REIT."
The DRP may be applied from time to time to any distribution declared by OUE C-Reit. The Reit manager will make an announcement on Singapore Exchange whenever it decides to apply the DRP to a particular distribution.
Participation in the DRP is optional and unitholders may elect to participate in respect of all or part of their unitholdings. The DRP may, at the discretion of the manager, not be offered to overseas unitholders.