Distribution Reinvestment Plan
(a real estate investment trust constituted on 18 September 2019 under the laws of the Republic of Singapore)
(Managed by United Hampshire US REIT Management Pte. Ltd.)
ESTABLISHMENT OF DISTRIBUTION REINVESTMENT PLAN
United Hampshire US Real Estate Management Pte. Ltd., as manager of United Hampshire US Real Estate Investment Trust ("UHREIT", and the manager of UHREIT, the "Manager"), is pleased to announce the establishment of a distribution reinvestment plan ("DRP"), pursuant to which unitholders of UHREIT ("Unitholders") may elect to receive new units in UHREIT ("Units") in respect of all or part only of the cash amount of any distribution to which the DRP applies. The statement containing the terms and conditions of the DRP (the "DRP Terms and Conditions") is attached in the Appendix.
The DRP may be applied from time to time to any distribution declared by UHREIT as the Manager may determine in its absolute discretion. Participation in the DRP is optional and Unitholders may elect to participate in respect of part or all of their unitholdings. Unless the Manager has determined that the DRP will apply to any particular distribution, the distribution concerned will be paid in cash to Unitholders in the usual manner.
In connection with the allotment and issue of new Units under the DRP, applications will be made to Singapore Exchange Securities Trading Limited (the "SGX-ST") for the listing and quotation of the new Units on the Main Board of the SGX-ST at the relevant time. The DRP may, at the discretion of the Manager, not be offered to Overseas Unitholders (as defined in the DRP Terms and Conditions).
The DRP provides Unitholders with an opportunity to elect to receive distributions in the form of fully paid new Units, instead of cash. This will enable Unitholders to increase their unitholdings in UHREIT without incurring brokerage fees, stamp duties (if any) and other related costs. The issue of new Units in lieu of cash distributions under the DRP will also strengthen UHREIT balance sheet, enhance its working capital reserves and improve the liquidity of the Units.
The Manager will make an announcement whenever it decides to apply the DRP to a particular distribution, and such announcement will contain, among others, (a) the procedures, timeline and other relevant details in relation to the application of the DRP to such distribution and (b) details on whether UHREIT is relying on a general mandate or specific Unitholders' approval for the issue of new Units under the DRP. For the avoidance of doubt, the DRP shall not apply to the distribution in respect of the period from 14 October 2021 to 31 December 2021.
By Order of the Board
Robert T. Schmitt
Chief Executive Officer
United Hampshire US REIT Management Pte. Ltd.
(Company Registration No. 201916768W)
(as manager of United Hampshire US Real Estate Investment Trust)
23 February 2022
This announcement is for information only and does not constitute or form part of an offer, invitation or solicitation of any offer to purchase or subscribe for the Units in Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever.
The value of the Units and the income derived from them may fall as well as rise. The Units are not obligations of, deposits in, or guaranteed by UHREIT, United Hampshire US REIT Management Pte. Ltd., Perpetual (Asia) Limited, as trustee of UHREIT, or any of their respective affiliates.
An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. The holders of Units have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.
This announcement may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Predictions, projections or forecasts of the economy or economic trends of the markets are not necessarily indicative of the future or likely performance of UHREIT. The forecast financial performance of UHREIT is not guaranteed. A potential investor is cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events. The past performance of UHREIT is not necessarily indicative of its future performance.