EHT receives request for EGM proposing rights issue, retention of manager

Uma Devi

Published Fri, Dec 18, 2020 · 09:50 PM

Singapore

ENTITIES controlled by Howard Wu and Taylor Woods, holding 10.54 per cent of the stapled securities of Eagle Hospitality Trust (EHT), have requested that an extraordinary general meeting (EGM) be convened to offer securityholders of EHT another option for the revival of the currently suspended trust.

The request was made on Dec 14. Mr Wu and Mr Woods, who were, respectively, EHT's non-executive chairman and non-executive deputy chairman, have proposed two resolutions.

The first is for a rights issue of up to US$50 million worth of new units in Eagle Hospitality Real Estate Investment Trust (EH-Reit) at US$0.075 each. EH-Reit and the dormant Eagle Hospitality Business Trust collectively constitute EHT. The second is to retain or re-appoint Eagle Hospitality Reit Management (EHRM), the current manager of EH-Reit, to "the fullest exten…