News
Notice To Unitholders On Exchange Rate For Computation Of Distribution In U.S. Dollars - Capital Component
BackSep 25, 2023
| Announcement Title | Scrip Election/ Distribution/ DRP |
| Date & Time of Broadcast | Sep 25, 2023 7:44 |
| Status | Replace |
| Corporate Action Reference | SG230808DVOPC2SX |
| Submitted By (Co./ Ind. Name) | LUN CHEE LEONG |
| Designation | COMPANY SECRETARY |
| Dividend/ Distribution Number | Applicable |
| Value | 8 |
| Dividend/ Distribution Type | Interim |
| Financial Year End | 31/12/2023 |
| Declared Dividend/ Distribution Rate (Per Share/ Unit) | USD 0.0052 |
| Dividend/ Distribution Period | 01/01/2023 TO 30/06/2023 |
| Number of Days | 181 |
| Event Narrative | |
| Narrative Type | Narrative Text |
| Additional Text | Prime US REIT is pleased to announce the distribution of US 2.46 cents per unit for the period from 1 January 2023 to 30 June 2023 which comprises two components: (a) distribution out of tax-exempt income of US 1.94 cents per Unit; and (b) distribution out of capital of US 0.52 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 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 31.97% on the tax-exempt income distribution. The U.S. tax forms are required to be reviewed and validated by the appointed processing agent by Tuesday, 12 September 2023. To ensure the forms can be validated by Tuesday, 12 September 2023, Unitholders are reminded to submit the completed tax forms to Prime US REIT's Unit Registrar - Boardroom Corporate & Advisory Services Pte. Ltd. by Monday, 4 September 2023. |
| Additional Text | Please refer to the attached announcement on the exchange rate of US$1 = S$1.3662, being the buy rate for Singapore dollars on 25 September 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 | 17/08/2023 17:00:00 |
| Ex Date | 16/08/2023 |
| Cash Payment Details | |
| Election Period | 24/08/2023 TO 04/09/2023 |
| Default Option | Yes |
| Option Currency | Singapore Dollar |
| Payment Type | Tax Not Applicable |
| Gross Rate (Per Share) | USD 0.0052 |
| Net Rate (Per Share) | USD 0.0052 |
| Pay Date | 28/09/2023 |
| Gross Rate Status | Indicative Rate |
| Currency Pair | SGD/USD |
| Exchange Rate | 1.3662 |
| Gross Rate in Option Currency | SGD 0.007104 |
| Security Option Details | |
| Election Period | 24/08/2023 TO 04/09/2023 |
| 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 0.161 |
| Security Credit Date | 28/09/2023 |
Applicable for REITs/ Business Trusts/ Stapled Securities |
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Attachments
- Attachment 1 (Size: 150,126 bytes)