As investors of Ascott Reit, the news surrounding is whether you will subscribe or reject the offers for a 1-to-5 rights issue at $1.

The Management has stated its intention to use the gross proceeds of approximately S$253.7 Million from the Rights Issue in the following manner:

(i) approximately S$204.9 million (equivalent to approximately 80.8% of the gross proceeds) will be used to pay down Ascott REIT’s debt;

(ii) approximately S$45.0 million (equivalent to approximately 17.7% of the gross proceeds) will be used to fund capital expenditure and asset enhancement initiatives, and for general corporate and working capital purposes;

(iii) approximately S$3.1 million (equivalent to approximately 1.2% of the gross proceeds) will be used to pay for the underwriting commission ; and

(iv) approximately S$0.7 million (equivalent to approximately 0.3% of the gross proceeds) will be used to pay the estimated ...