Key Points
- DPU for the reporting quarter is 1.85 cents.
- On 1 October 2010, Ascott Reit completed the acquisition of 3,347 apartment units in 28 properties in Singapore, Vietnam, France, United Kingdom (UK), Germany, Belgium and Spain. Ascott Reit’s enlarged portfolio now comprises 65 properties with 6,681 apartment units in 12 countries and 23 cities across Asia Pacific and Europe.
- On 13 September 2010, ARTML launched an equity fund raising by way of a private placement and non-renounceable preferential offering. In order to ensure fairness to holders of Ascott Reit units prior to the issuance of the private placement new units, the Manager declares, in lieu of the scheduled distribution, an advanced distribution of the distributable income for the period from 1 July 2010 up to 21 September 2010, the day immediately prior to the date on which the private placement new units are issued.
- The advanced distribution for the period from 1 July 2010 up to 21 September 2010 will be 1.74 cents per unit.
- Books closure for the advanced distribution was on 21 September 2010 and will be paid on 19 November 2010.
- The next distribution will comprise the distributable income from 22 September 2010 to 31 December 2010. Semi-annual distributions will resume thereafter.
- Gearing of 32.2% as at 30 September 2010. Excluding the proceeds from the private placement tranche of the equity fund raising in September 2010, which was used to part fund the acquisition of properties in October 2010, the Group’s gearing was 41.1%.
- The net asset value (“NAV”) per Unit was S$1.22 as at 30 September 2010.
The advanced DPU of 1.74 cents from the period from 1 July 2010 up to 21 September 2010 will be paid on 19 Nov 2010. Books closure was on 21 Sep 2010, which is already over at the time of this report. The DPU will be paid on 19 Nov 2010.
The next distribution will comprise the distributable income from 22 September 2010 to 31 December 2010. Semi-annual distributions will resume thereafter. Normally the reit will distribute the semi-annual DPU for the period from 1 Jun to 31 Dec after the quarterly earnings report for the last quarter of the year.
DPU for the reporting quarter is 1.85 cents. On 22 September 2010, 419,660,000 new units were issued under the private placement tranche of the equity fund raising to part fund the acquisition of the 28 properties, which was completed on 1 October 2010. Excluding the private placement new units, the DPU for 3Q 2010 would be 1.93 cents, representing an increase of 1% as compared to 3Q 2009.
DPU was 1.87 cents in the previous quarter.
Related Posts
Ascott Reit Completes Target Acquisitions and Divestment & Use Of Proceeds - 1 OCT 2010
Ascott Reit issues 67,858,000 preferential offering new units - 7 OCT 2010
REIT Financial News - 20 AUG 2010: Ascott REIT buying 28 serviced residences for S$970m
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