The stapled securities were issued at S$0.8505 each.
CDL Hospitality Trusts issued 4.9 million stapled securities at $0.8505 apiece as payment for management fees to M&C REIT Management Limited.
This represents 80.0% of the management fee for FY2024.
Following the transaction, M&C REIT Management’s stake in CDL Hospitality Trusts rose to 10.515% or 133 million shares.
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