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

BackMar 28, 2023
Announcement Title Scrip Election/ Distribution/ DRP
Date & Time of Broadcast Mar 28, 2023 19:58
Status Replace
Corporate Action Reference SG230208DVOP7CY7
Submitted By (Co./ Ind. Name) LUN CHEE LEONG
Designation COMPANY SECRETARY
Dividend/ Distribution Number Applicable
Value 7
Dividend/ Distribution Type Final
Financial Year End 31/12/2022
Declared Dividend/ Distribution Rate (Per Share/ Unit) USD 0.0205
Dividend/ Distribution Period 01/07/2022 TO 31/12/2022
Number of Days 184
Event Narrative
Narrative Type Narrative Text
Additional Text Prime US REIT is pleased to announce the distribution of US 3.03 cents per unit for the period from 1 July 2022 to 31 December 2022 which comprises two components:

(a) distribution out of tax-exempt income of US 2.05 cents per Unit; and
(b) distribution out of capital of US 0.98 cents per Unit.
Additional Text Prime US REIT Management Pte. Ltd., as manager of Prime US REIT, has determined that the distribution reinvestment plan ( DRP ) will apply to the 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 30.87% 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, 10 March 2023.
Additional Text Please refer to the attached announcement on the exchange rate of US$1 = S$1.3257, being the buy rate for Singapore dollars on 28 March 2023. 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 16/02/2023 17:00:00
Ex Date 15/02/2023
Option 1-Cash Payment Details
Election Period 24/02/2023 TO 03/03/2023
Default Option Yes
Option Currency Singapore Dollar
Payment Type Tax Exempted
Gross Rate (Per Share) USD 0.0205
Net Rate (Per Share) USD 0.0205
Pay Date 31/03/2023
Gross Rate Status Indicative Rate
Currency Pair SGD/USD
Exchange Rate 1.3257
Gross Rate in Option Currency SGD 0.027177
Option 2-Cash Payment Details
Election Period 24/02/2023 TO 03/03/2023
Default Option No
Option Currency United States Dollar
Payment Type Tax Exempted
Gross Rate (Per Share) USD 0.0205
Net Rate (Per Share) USD 0.0205
Pay Date 31/03/2023
Gross Rate Status Indicative Rate
Security Option Details
Election Period 24/02/2023 TO 03/03/2023
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 0.444
Security Credit Date 31/03/2023

Applicable for REITs/ Business Trusts/ Stapled Securities

Attachments

  1. Attachment 1 (Size: 149,604 bytes)

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