[SINGAPORE] Frasers Hospitality Trust (FHT) is undergoing a strategy review, though there is currently no certainty if its existing business strategy will change.
This follows a failed bid to privatise the stapled group in 2022. Trading volumes of FHT’s stapled securities surged several times in November and December of 2024.
“As part of this review, various options (including exploring options with the sponsor of FHT) are being considered to ensure alignment with the interests of stapled securityholders,” the manager said on Wednesday (Apr 23).
However, it added that “there is no certainty or assurance that any transaction in respect of the stapled securities will arise, and the managers may decide to continue with FHT’s existing business strategy”.
In 2022, a privatisation bid by managers of the Singapore-listed real estate investment trust (Reit) fell through as it failed to garner sufficient approval from stapled securityholders.
The resolution fell shy of the minimum 75 per cent approval required for it to be passed at the scheme meeting in 2022. It attained favourable votes representing 74.88 per cent of units, from around 70.91 per cent of stapled securityholders.
The manager added that it will make announcements in due course, should any material developments that warrant disclosure arise. It urged investors to exercise caution and refrain from taking action with respect to their FHT stapled securities that may be prejudicial to their interests.
FHT is a stapled group comprising Frasers Hospitality Reit and Frasers Hospitality Business Trust.
Stapled securities of FHT ended Tuesday 1.7 per cent or S$0.01 higher at S$0.60.
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