S-REITs - Week 21 - 2024

( YTD: +2.11% | 5D: -3.33%)

Cromwell European REIT (CEREIT) to welcome Stoneweg as new Sponsor and substantial unitholder

• Global multi-strategy real estate advisor and asset manager company Stoneweg and its associates are acquiring 27.79% unitholding in CEREIT, 100% interest in the Singapore Manager of CEREIT and 100% interest in Cromwell’s European platform, subject to Singapore and Luxembourg regulatory approvals and other customary closing conditions
  
  
• Stoneweg supports CEREIT’s existing investment strategy within the existing governance framework and CEREIT Independent Directors and management team to leverage on combined platform strengths

For more update information, please click here

Halt Dividend since 20 Mar 2023

Fitch has downgraded LMIR Trust’s Long Term Issuer Default Ratings (IDR) to ‘C’ from ‘CC’

• The downgrade follows LMIR Trust’s announcement on 21 May 2024 that the exchange offer on its USD138.4 million senior unsecured notes due 19 June 2024, subject to the satisfaction of the conditions in the offering memorandum, would proceed and in Fitch’s view, such an exchange offer constitutes a distressed debt exchange, as the transaction will lead to a material reduction in original terms of the notes.

For further information, please click here

( YTD: -21.26% | 5D: +0.74% )

Business and Operational Updates For the First Quarter ended 31 March 2024

• the resignation of Ms Ng Kiat as Chief Executive Officer and Executive Director of the Manager; and
  
  
• the appointment of Ms Jean Kam Sok Kam as Chief Executive Officer and Executive Director of the Manager

For further information, please click here