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Notice To Unitholders On Exchange Rate For Computation Of Distribution In U.S. Dollars - Capital Component

BackMar 25, 2022
Announcement Title Scrip Election/ Distribution/ DRP
Date & Time of Broadcast Mar 25, 2022 20:32
Status Replace
Corporate Action Reference SG220216DVOP0GMP
Submitted By (Co./ Ind. Name) Ngiam May Ling
Designation Company Secretary
Dividend/ Distribution Number Applicable
Value 5
Dividend/ Distribution Type Final
Financial Year End 31/12/2021
Declared Dividend/ Distribution Rate (Per Share/ Unit) USD 0.0129
Dividend/ Distribution Period 06/07/2021 TO 31/12/2021
Number of Days 179
Event Narrative
Narrative Type Narrative Text
Additional Text Prime US REIT is pleased to announce the distribution of US 3.36 cents per unit for the period from 6 July 2021 to 31 December 2021 which comprises two components:

(a) distribution out of tax-exempt income of US 2.07 cents; and
(b) distribution out of capital of US 1.29 cents per unit.
Additional Text KBS US Prime Property Management Pte. Ltd., as manager of Prime US REIT, has determined that the distribution reinvestment plan ( DRP ) will apply to the above distribution.

Please refer to the Notice of Record Date and Application of DRP announcement attached.
Taxation Conditions The capital component of the Distribution represents a return of capital to Unitholders for Singapore income tax purposes and is therefore not subject to Singapore income tax.
Taxation Conditions Unitholders who do not submit required U.S. tax forms completely and accurately will be subject to an effective withholding tax of 30.12% on the tax-exempt income distribution. The U.S. tax forms are required to be reviewed and validated by the appointed processing agent by Friday, 11 March 2022.
Additional Text Please refer to the attached announcement on the exchange rate of US$1 = S$1.3552, being the buy rate for Singapore dollars on 25 March 2022. For unitholders of Prime US REIT who have not opted to receive their distribution in U.S. dollars, the amount of distribution to be paid in Singapore dollars will be computed based on this exchange rate.
Event Dates
Record Date and Time 24/02/2022 17:00:00
Ex Date 23/02/2022
Cash Payment Details
Election Period 03/03/2022 TO 11/03/2022
Default Option Yes
Option Currency Singapore Dollar
Payment Type Tax Not Applicable
Gross Rate (Per Share) USD 0.0129
Net Rate (Per Share) USD 0.0129
Pay Date 31/03/2022
Gross Rate Status Indicative Rate
Currency Pair SGD/USD
Exchange Rate 1.3552
Gross Rate in Option Currency SGD 0.017482
Security Option Details
Election Period 03/03/2022 TO 11/03/2022
New Security ISIN SGXC75818630
New Security Name PRIME US REIT
Security Not Found No
Fractional Disposition Method Round down fraction to last full unit
Issue/ Reinvestment Price USD 0.759
Security Credit Date 31/03/2022

Applicable for REITs/ Business Trusts/ Stapled Securities

Attachments

  1. Attachment 1 (Size: 78,331 bytes)

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