News
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 |
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Attachments
- Attachment 1 (Size: 78,331 bytes)