11 May 2016

Renounceable underwritten rights issue by OUE Hospitality Trust

Evelyn Wee and Lim Ee Nian from the Capital Markets / Mergers & Acquisitions Practice Group are acting for BNP Paribas, acting through its Singapore Branch, DBS Bank Ltd. and Credit Suisse (Singapore) Limited (collectively, the “Joint Lead Managers and Underwriters”) in relation to the renounceable underwritten rights issue (“Rights Issue”) of 441,901,257 new Stapled Securities (“Rights Stapled Securities”) of OUE Hospitality Trust (“OUE H-Trust”) at an issue price of S$0.540 for each Right Stapled Security on the basis of 33 Right Stapled Security for every 100 existing Stapled Securities held by Stapled Securityholders of OUE H-Trust as at the book closure date of 15 March 2016, to raise gross proceeds of approximately S$238.6 million. The Rights Issue was approximately 139.9% subscribed.

The Rights Issue is underwritten by the Joint Lead Managers and Underwriters.

OUE H-Trust is a stapled group comprising OUE Hospitality Real Estate Investment Trust (“OUE H-REIT”) and OUE Hospitality Business Trust (“OUE H-BT”). OUE H-REIT is a Singapore-based REIT established with the principal investment strategy of investing, directly or indirectly, in a portfolio of income-producing real estate which is used primarily for hospitality and/or hospitality-related purposes, whether wholly or partially, as well as real estate-related assets. OUE H-BT, a Singapore-based business trust, is dormant.