|Announcement Title||General Announcement|
|Date & Time of Broadcast||Nov 30, 2020 0:25|
|Announcement Sub Title||FIRST REIT'S ANNOUNCEMENT - RESTRUCTURING OF MASTER LEASES|
|Submitted By (Co./ Ind. Name)||Mr. Yet Kum Meng|
|Designation||Chief Executive Officer and Executive Director|
|Description (Please provide a detailed description of the event in the box below)||The Company's associated company, First REIT Management Limited (the "Manager"), the manager of First Real Estate Investment Trust ("First REIT"), has issued an announcement, press release and presentation slides in relation to the restructuring of master leases of some properties in First REIT on 29 November 2020.
The Company has noted key matters as presented in First REIT's announcement and related presentation materials including the rationale for the proposed restructuring terms and the illustrative negative financial impact in respect of the (a) rental and other income, (b) net property and other income, (c) net asset value per unit and (d) leverage ratio.
The Company will continue to assess the impact of the above announcement on the Group and will keep shareholders informed of any material developments through SGXNET in accordance with the requirements under the applicable Catalist Rules. Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.
For details, please refer to the announcement posted by the Manager on the SGX website, www.sgx.com.
This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Ms. Gillian Goh, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, email@example.com.