SINGAPORE (May 27): Unitholders of beleaguered Eagle Hospitality Trust (EHT) will not receive any distributions for the period of May 24, 2019 to Dec 31, 2019 as the trust scrambles to utilise its funds for “preservation and protection” of its portfolio.
“Given the present developments, it would no longer be feasible or practicable for the managers and the REIT trustee to effect the payment of the distribution in part or at all at this juncture,” says EHT’s manager.
EHT’s 4QFY2019 results had announced a distribution of 3.478 US cents per stapled security for the aforementioned period, which was slated to be paid out on March 30. On March 24, the REIT said it has to halt the distribution to unitholders on March 24, citing restrictions under the terms of the facilities agreement from making payment of the distribution.
