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Manulife US REIT’s chairman and director add stakes

Felicia Tan
Felicia Tan • 1 min read
Manulife US REIT’s chairman and director add stakes
The 19-storey office property Michelson, one of the buildings within MUST's portfolio. Photo: MUST
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Marc Feliciano, the chairman of Manulife US REIT’s (MUST) BTOU -

manager, has bought 3.6 million units for US$232,200 ($312,587.64) or 6.45 US cents per unit.

The purchase, made via the open market on March 21, brings Feliciano’s stake in the REIT to 0.203% from 0% previously.

Veronica Julia McCann, an independent non-executive director and chairman of the audit and risk committee, has also bought some 4.0 million units for US$237,300.81 or 5.93 US cents apiece from the market on March 21.

The purchase has brought McCann’s stake to 0.27% from 0.045%. The stake is jointly owned by her and her spouse, Steven Baggott.

On March 22, McCann bought another 2.2 million units for US$149,461.54 or 6.77 US cents apiece via the market, bringing the total stake of her and her spouse to 0.394%.

MUST's manager, on March 19, announced that its CEO William "Tripp" Gantt, deputy CEO Caroline Fong and CFO Robert Wong, will be stepping down from their roles on June 30. The move surprised analysts from DBS Group Research, who noted that the team "has held the helm during the most difficult and challenging times".

See also: Alibaba trims SingPost stake via married deal at 46 cents each

As at 10.30am, units in MUST are trading 0.5 cents higher or 7.81% up at 6.9 US cents.

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