I received a circular from Ascott Residence Trust (ART) this morning regarding a corporate action required from Ascott shareholders.
Ascott Residence Trust (ART) proposes to seek the approval of Unitholders for the Target Acquisitions of 3 Service Residence based in China and 11 Residential properties based in Japan.
China
- Citadines Biyun Shanghai, Shanghai.
- Somerset Heping Shenyang, Shenyang.
- Citadines Xinghai Suzhou, Suzhou.
- Actus Hakata V-Tower
- Big Palace Kita
- Grand Mire Miyamachi
- Grand Mire Shintera
- Gravis Court Kakomachi
- Gravis Court Kokutaiji
- Gravis Court Nishiharaekimae
- Grand E'terna Saga
- Grand E'terna Saga Idaidori
- Grand E'terna Nijojomae
- Grand E'terna Chioninmae
The aggregate costs for the target acquisitions are expected to be equivalent to S$166.8 Million. The company will fund almost 90% (i.e S$147.8 Million) of the costs through the net proceeds raised from a private placement earlier in Feb 2013. The rest of ...
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