ESR-LOGOS REIT Announces Advanced Distribution Amid Preferential Offering
ESR-LOGOS REIT, a prominent player in the Asia-Pacific real estate market, has issued an important update regarding its advanced distribution and preferential offering. This announcement, dated 11 November 2024, is crucial for unitholders and potential investors as it could influence share values significantly.
Key Points from the Announcement
The manager of ESR-LOGOS REIT, ESR-LOGOS Funds Management (S) Limited, has disclosed that the actual advanced distribution per unit for the period from 1 July 2024 to 10 November 2024 is 0.722 Singapore cents per unit. This distribution is split into two components:
- Taxable income distribution of 0.678 Singapore cents per unit
- Tax-exempt income distribution of 0.044 Singapore cents per unit
Unitholders whose securities accounts with CDP are credited with existing units as of 5.00 p.m. on 8 November 2024 will be entitled to this advanced distribution, which will be paid on or around 8 January 2025. Notably, holders of new units issued through the preferential offering will not be eligible for this advanced distribution.
Implications for Unitholders
This announcement is significant for unitholders for several reasons. Firstly, the confirmation of the advanced distribution provides a clear indication of the income they can expect. Secondly, the exclusion of new unit holders from this distribution could impact the attractiveness of the preferential offering.
Additionally, the manager has assured that ESR-LOGOS REIT has sufficient financial resources to meet its liabilities post-payment of the advanced distribution. This assurance is vital for maintaining investor confidence.
Details of the Preferential Offering
The preferential offering, detailed in the announcements dated 10 October 2024, aims to raise gross proceeds of up to approximately S\$94.0 million. This offering is based on 4 preferential offering units for every 100 existing units.
The next distribution, following the advanced distribution, will cover the period from 11 November 2024 to 31 December 2024, with semi-annual distributions resuming thereafter unless otherwise announced.
About ESR-LOGOS REIT and the Sponsor
ESR-LOGOS REIT, listed on the Singapore Exchange since 25 July 2006, holds interests in a diversified portfolio of logistics and industrial properties across Singapore, Australia, and Japan, with total assets of approximately S\$5.0 billion. The REIT is managed by ESR-LOGOS Funds Management (S) Limited and sponsored by ESR Group Limited, Asia-Pacific’s leading New Economy real asset manager.
Contact Information
For further enquiries, unitholders and investors can contact:
- Lyn Ong, Senior Manager, Capital Markets and Investor Relations, Tel: +65 6222 3339, Email: [email protected]
- Sua Xiu Kai, Manager, Corporate Communications, Tel: +65 6222 3339, Email: [email protected]
Important Notice
This announcement is not for distribution in the United States, United Kingdom, or any other jurisdictions where it may violate applicable securities laws. The value of units in ESR-LOGOS REIT can fluctuate, and past performance is not indicative of future results. Investors should consider their investment objectives and financial situation before investing.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should seek professional advice before making any investment decisions.
