Scrip Election/ Distribution/ DRP::Choice

Issuer & Securities

Issuer/ Manager
CROMWELL EREIT MANAGEMENT PTE. LTD.
Security
CROMWELL EUROPEAN REIT - SG1EA8000000 - CNNU

Announcement Details

Announcement Title
Scrip Election/ Distribution/ DRP
Date &Time of Broadcast
24-Feb-2021 11:53:58
Status
New
Corporate Action Reference
SG210224DVOP0NPX
Submitted By (Co./ Ind. Name)
Simon Garing
Designation
Chief Executive Officer and Executive Director
Dividend/ Distribution Number
Applicable
Value
7
Financial Year End
31/12/2021
Declared Dividend/ Distribution Rate (Per Share/ Unit)
EUR 0.0058
Dividend/ Distribution Period
01/01/2021 TO 04/03/2021
Number of Days
63

Event Narrative

Narrative Type
Narrative Text
Additional TextCromwell European Real Estate Investment Trust ("CEREIT") has announced an estimated advanced distribution of 0.58 cents (EUR) per unit in CEREIT for the period from 1 January 2021 to 4 March 2021 (the "Advanced Distribution").
Additional TextThe Advanced Distribution will comprise wholly of a tax-exempt income component of 0.58 cents (EUR) per unit.

Please see attached for details.
Additional TextTogether with the regular distribution of the distributable income for the period from 1 July 2020 to 31 December 2020, the "Cumulative Distribution" comprises:
Additional Texti) a distribution of 1.744 cents (EUR) per unit for the period from 1 July 2020 to 31 December 2020 ("2H FY20 Distribution") (announced on 23 February 2021) and (ii) the estimated advanced distribution of 0.58 cents (EUR) per unit for the period from 1 January 2021 to 4 March 2021 ("Advanced Distribution").
Additional TextCromwell EREIT Management Pte. Ltd., as manager of CEREIT, is pleased to announce that the Distribution Reinvestment Plan ("DRP") is applicable to the Cumulative Distribution.
Additional TextUnitholders who wish to participate in the DRP or receive their Cumulative Distribution in EUR will have to complete the Notice of Election and send it to the Manager c/o The Central Depository (Pte) Limited at the address(es) indicated on the Notices of Election, such that it is received by 5.00 p.m. on Friday, 19 March 2021.
Additional TextNo action is needed for Unitholders who wish to receive the Distribution in SGD.
Taxation ConditionsThe Tax-exempt Income Distribution is exempt from tax in the hands of all Unitholders. No tax will be deducted at source.

Event Dates

Record Date and Time
04/03/2021 17:00:00
Ex Date
03/03/2021

Option 1-Cash Payment Details

Election Period
11/03/2021 TO 19/03/2021
Default Option
Yes
Option Currency
Singapore Dollar
Payment Type
Tax Exempted
Gross Rate (Per Share)
EUR 0.0058
Net Rate (Per Share)
EUR 0.0058
Pay Date
31/03/2021
Gross Rate Status
Indicative Rate
Currency Pair
SGD/EUR
Exchange Rate
1.6
Gross Rate in Option Currency
SGD 0.00928
Note- Any information entered in narrative will not be used in processing
Narrative Type
Narrative Text
Additional TextThe exchange rate of EUR1 = S$1.60 is as of 24 February 2021 and is indicative.

Option 2-Cash Payment Details

Election Period
11/03/2021 TO 19/03/2021
Default Option
No
Option Currency
Euro
Payment Type
Tax Exempted
Gross Rate (Per Share)
EUR 0.0058
Net Rate (Per Share)
EUR 0.0058
Pay Date
31/03/2021
Gross Rate Status
Actual Rate

Security Option Details

Election Period
11/03/2021 TO 19/03/2021
New Security ISIN
SG1EA8000000
New Security Name
CROMWELL EUROPEAN REIT
Security Not Found
No

Attachments

Related Announcements

Applicable for REITs/ Business Trusts/ Stapled Securities