News
Issue And Listing Of New Units Under The Distribution Reinvestment Plan - Tax-Exempt Income Component
BackMar 31, 2022
| Announcement Title | Scrip Election/ Distribution/ DRP |
| Date & Time of Broadcast | Mar 31, 2022 17:27 |
| Status | Replace |
| Corporate Action Reference | SG220216DVOPE61X |
| 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 0.0207 |
| 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 tax-exempt income component is exempt from tax in the hands of all Unitholders. No tax will be deducted at source from this component. |
| 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 | 31 March 2022 - Please refer to the attached announcement on the issue and listing of 3,255,625 new units in Prime US REIT at an issue price of US$0.759 per new unit today pursuant to Prime US REIT's Distribution Reinvestment Plan, for the period from 6 July 2021 to 31 December 2021. |
| Event Dates | |
| Record Date and Time | 24/02/2022 17:00:00 |
| Ex Date | 23/02/2022 |
| Option 1-Cash Payment Details | |
| Election Period | 03/03/2022 TO 11/03/2022 |
| Default Option | Yes |
| Option Currency | Singapore Dollar |
| Payment Type | Tax Exempted |
| Gross Rate (Per Share) | USD 0.0207 |
| Net Rate (Per Share) | USD 0.0207 |
| Pay Date | 31/03/2022 |
| Gross Rate Status | Indicative Rate |
| Currency Pair | SGD/USD |
| Exchange Rate | 1.3552 |
| Gross Rate in Option Currency | SGD 0.028053 |
| Option 2-Cash Payment Details | |
| Election Period | 03/03/2022 TO 11/03/2022 |
| Default Option | No |
| Option Currency | United States Dollar |
| Payment Type | Tax Exempted |
| Gross Rate (Per Share) | USD 0.0207 |
| Net Rate (Per Share) | USD 0.0207 |
| Pay Date | 31/03/2022 |
| Gross Rate Status | Indicative Rate |
| 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: 184,745 bytes)