Starhill Global REIT will now allow its unitholders to receive new units in lieu of all or a part of the cash amount of any distribution as part of its distribution reinvestment plan (DRP).
The DRP was established on Oct 28. It has been approved by unitholders at the annual general meeting (AGM) held on the same day.
In connection with the DRP, the manager has also announced that it has entered into a seventh supplemental deed on the same day with the REIT’s trustee, HSBC Institutional Trust Services.
The seventh supplemental deed was made to amend the deed of trust dated Aug 8, 2005.
According to a filing on SGX, the DRP may be applied from time to time to any distribution declared by the REIT.
Unitholders’ participation in the DRP is optional. Unitholders may choose to take part in the plan using a part of, or all of their units in the REIT.
Should the DRP not be opted, the distribution concerned will be paid in cash to unitholders like before.
Units in Starhill Global REIT closed 1 cent lower or 2.3% down at 42 cents on Oct 28.
See also: Starhill Global REIT reports 19.2% lower NPI in 1QFY2020/2021 due to rental assistance
