Singapore substantial shareholder changes announced on Thursday, 18 November 2021: Prime US REIT and United Hampshire US REIT.
This item was originally published on Thursday, 18 November 2021 at 13:18 SGT; it has since been updated to include Frasers Logistics & Commercial Trust and Q & M Dental Group (Singapore).
Prime US REIT
AT Investments sold 600,000 units of Prime US REIT for US$501,000 in a market transaction on Wednesday, taking its stake down to 6.998 percent from 7.05 percent previously, according to a filing to SGX Thursday.
The seller, AT Investments, is a wholly owned subsidiary of Auctus Investments, which in turn is wholly owned by the Sai Charan Trust, which as Arvind Tiku and his immediate family members as beneficiaries, the filing said.
Auctus Investments and Arvind Tiku are deemed interested in the Prime US REIT units held by AT Investments, the filing said. The other beneficiaries of Sai Charan Trust — Arvind Tiku’s spouse and their two children — do not have a determined entitlement to the trust, the filing said.
United Hampshire US REIT
UBS Group’s deemed interest in United Hampshire US REIT fell to 4.99 percent, under the threshold to be considered a substantial unitholder, from 5 percent previously due to dilution from the issuance of new units to pay the REIT’s management fees.
Frasers Logistics & Commercial Trust
Frasers Logistics & Commercial Asset Management (FLCAM), the manager of Frasers Logistics & Commercial Trust, received around 9.71 million units of the trust, valued at S$14.67 million, as payment of management fees, according to a filing to SGX Thursday.
That brought FLCAM’s total interest in Frasers Logistics & Commercial Trust to 0.865 percent, up from 0.603 percent previously, the filing said.
FLCAM then nominated Frasers Property Industrial Trust Holdings (FPITH) to receive 7.61 million units in exchange for S$11.50 million cash, and the HAUT manager nominated FPITH to receive an additional 2.097 million units for S$3.17 million, taking FLCAM’s deemed interest down to 0.602 percent, the filing said.
Q & M Dental Group (Singapore)
Quan Min Holdings has acquired 1,313,900 shares of Q & M Dental Group (Singapore) for S$787,775 on Thursday.
Ng Chin Siau is deemed interested in the shares, taking Ng’s deemed interest in Q & M Dental Group (Singapore) to 52.41 percent from 52.27 percent previously, according to a filing to SGX Thursday. Ng is also deemed interested in 121,200 shares held by his spouse, Foo Siew Jiuan, the filing said.
Quan Min is Q & M Dental’s parent company; Ng is Q & M’s founder and CEO.