Home News Company in the news

Eagle Hospitality Trust to sacrifice distributions for the 'preservation and protection' of portfolio

Uma Devi
Uma Devi5/27/2020 11:55 PM GMT+08  • 5 min read
Eagle Hospitality Trust to sacrifice distributions for the 'preservation and protection' of 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.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

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.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now