Frasers Hospitality Trust privatisation bid falls shy of required 75% approval in scheme meeting

THE bid by the managers of Frasers Hospitality Trust (FHT) to go private has been scuttled, after the Singapore-listed real estate investment trust (S-Reit) failed to garner the mandatory approvals from stapled securityholders at a scheme meeting on Monday (Sep 12).

Some 70.91 per cent of stapled securityholders representing 74.88 per cent of units voted in favour of the proposed scheme.

Of the 227.6 million stapled securities represented by votes, 170.4 million voted to approve the scheme while the remaining 57.2 million voted against.