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

BackSep 20, 2022
Announcement Title Scrip Election/ Distribution/ DRP
Date & Time of Broadcast Sep 20, 2022 17:21
Status Replace
Corporate Action Reference SG220804DVOPJ58H
Submitted By (Co./ Ind. Name) LUN CHEE LEONG
Designation COMPANY SECRETARY
Dividend/ Distribution Number Applicable
Value 6
Dividend/ Distribution Type Interim
Financial Year End 31/12/2022
Declared Dividend/ Distribution Rate (Per Share/ Unit) USD 0.02
Dividend/ Distribution Period 01/01/2022 TO 30/06/2022
Number of Days 181
Event Narrative
Narrative Type Narrative Text
Additional Text Prime US REIT is pleased to announce the distribution of US 3.52 cents per unit for the period from 1 January 2022 to 30 June 2022 which comprises two components:

(a) distribution out of tax-exempt income of US 2.00 cents; and
(b) distribution out of capital of US 1.52 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 31.32% on the tax-exempt income distribution. The U.S. tax forms are required to be reviewed and validated by the appointed processing agent by Monday, 5 September 2022.
Additional Text Please refer to the attached announcement on the exchange rate of US$1 = S$1.4055, being the buy rate for Singapore dollars on 20 September 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 12/08/2022 17:00:00
Ex Date 11/08/2022
Option 1-Cash Payment Details
Election Period 22/08/2022 TO 30/08/2022
Default Option Yes
Option Currency Singapore Dollar
Payment Type Tax Exempted
Gross Rate (Per Share) USD 0.02
Net Rate (Per Share) USD 0.02
Pay Date 26/09/2022
Gross Rate Status Indicative Rate
Currency Pair SGD/USD
Exchange Rate 1.4055
Gross Rate in Option Currency SGD 0.02811
Option 2-Cash Payment Details
Election Period 22/08/2022 TO 30/08/2022
Default Option No
Option Currency United States Dollar
Payment Type Tax Exempted
Gross Rate (Per Share) USD 0.02
Net Rate (Per Share) USD 0.02
Pay Date 26/09/2022
Gross Rate Status Indicative Rate
Security Option Details
Election Period 22/08/2022 TO 30/08/2022
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 0.664
Security Credit Date 26/09/2022

Applicable for REITs/ Business Trusts/ Stapled Securities

Attachments

  1. Attachment 1 (Size: 77,790 bytes)

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