REIT Financial News - 7 JAN 2010: FrasersCT Proposed Acquisitions of Northpoint 2 and YewTee Point

7 January 2010 - Frasers Centrepoint Asset Management Ltd. (the "Manager"), the manager of Frasers Centrepoint Trust (“FCT”), is pleased to announce the proposed acquisitions of Northpoint 2 and YewTee Point. Details in report and press release. 

Key Points

• The purchase consideration for Northpoint 2 is S$164.55 million.
• The purchase consideration for YewTee Point is S$125.65 million.
• The Manager proposes an equity fund raising (“EFR”) of up to 152.0 million new units ("New Units") to part finance the acquisitions with the balance to be funded by borrowings.
• FCT Unitholders will meet in an Extraordinary General Meeting (“EGM”) scheduled on 25 Jan 2010 to vote on the proposed transactions.
• FCT’s portfolio value will grow from S$1.2 billion to S$1.5 billion.
• The Equity Fund Raising may comprise any one or a combination of two or more of the following: 
• a placement of New Units to institutional and other investors (the "Private Placement")
• an offering of New Units to retail investors in Singapore through the
  automated teller machines of participating banks (the "ATM Offering")
• a non-renounceable preferential offering of New Units to the then Unitholders on a pro rata basis (the "Preferential Offering")