Cuscaden Peak declares unconditional its mandatory cash offer to acquire SPH REIT units

It has received valid acceptances of its chain offer of an aggregate of 130,059,351 offer units.

Cuscaden Peak has declared its mandatory cash offer to acquire all the issued and outstanding units in SPH REIT "unconditional in all respects," on 1 June, 6 p.m.

Morgan Stanley Asia, on behalf of Cuscaden Peak, said the Ong Beng Seng-led consortium has received valid acceptances of its chain offer of an aggregate of 130,059,351 offer units, representing approximately 4.64% of the total issued SPH REIT units.

This will bring the number of SPH REIT units to be acquired by the offerer and its concert parties to 1.46 billion or 51.96% of the total issued SPH REIT units.

Cuscaden Peak's chain offer will remain open for acceptance  for not less than 14 days after the date on which it would have closed, said Morgan Stanley Asia.

"Accordingly, the Closing Date for the Chain Offer will be extended from 5.30 p.m. (Singapore time) on 16 June 2022 to 5.30 p.m. (Singapore time) on 30 June 2022, or such later date(s) as may be announced from time to time by or on behalf of the Offeror," Morgan Stanley Asia added.

Unitholders who have accepted the offer before the unconditional declaration can expect to receive payment within seven business days after the unconditional date for the offer units.

Meanwhile, unitholders who have yet to accept the offer but wish to do so should complete, sign, and deliver the relevant Acceptance Forms and all other relevant documents as soon as possible to reach the Offeror c/o The Central Depository (Pte) Limited ("CDP") or Boardroom Corporate & Advisory Services Pte. Ltd. (as the case may be) not later than 5.30 p.m. (Singapore time) on the Closing Date. 

All Acceptance Forms and other relevant documents received after 5.30 p.m. (Singapore time) on the Closing Date will not be accepted, Morgan Stanley Asia said.