SPH to delist from SGX on May 13 following Cuscaden takeover, scheme payment complete
எஸ். வெங்கடேஷ்வரன்
FOLLOWING the acquisition by investment vehicle Cuscaden Peak Singapore Press Holdings is set to delist from the Singapore Exchange (SGX) on May 13.
In a bourse filing on Thursday (May 12), Cuscaden announced that the payment of the Cuscaden scheme consideration has been effected. This comprises the cash consideration and for eligible shareholders cash and SPH Reit units consideration.
Cuscaden has arranged to facilitate odd lots trades of SPH Reit Units from 12 May to 23 June, via selected brokers - OCBC Securities, Phillip Securities, UOB Kay Hian. The brokerage fees including any goods and services tax (GST) for the odd lots trades carried out via the brokers during the applicable period will be borne by Cuscaden, the filing noted.
Odd lots trade means an aggregate of 99 or fewer SPH Reit units bought in a single day, or an aggregate of 99 or fewer units sold in a single day.
Investors who don’t have the specific brokerage accounts will personally need to open an account themselves.
While SPH Reit holders won’t be charged brokerage fees for the odd lot trades, they should note that are required to continue to bear clearing fees and other regular trading fees imposed by the SGX, the filing added.
Cuscaden is a consortium comprising locally listed hotel and property owner Hotel Properties Limited , businessman Ong Beng Seng and 2 Temasek-linked entities - CLA and Mapletree Investments - whose businesses span the real estate sector.
Units of SPH Reit closed down 0.5 per cent of S$0.005 at S$0.94, while shares of SPH last traded at S$2.35 before its trading halt on April 7.
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