{"id":10481,"date":"2020-12-22T07:10:00","date_gmt":"2020-12-22T07:10:00","guid":{"rendered":"https:\/\/eodishasamachar.com\/en\/2020\/12\/22\/eagle-hospitality-trust-sponsor-expresses-doubt-over-sc-capitals-proposal\/"},"modified":"2020-12-22T07:10:00","modified_gmt":"2020-12-22T07:10:00","slug":"eagle-hospitality-trust-sponsor-expresses-doubt-over-sc-capitals-proposal","status":"publish","type":"post","link":"https:\/\/eodishasamachar.com\/en\/2020\/12\/22\/eagle-hospitality-trust-sponsor-expresses-doubt-over-sc-capitals-proposal\/","title":{"rendered":"Eagle Hospitality Trust Sponsor Expresses Doubt Over SC Capital\u2019s Proposal"},"content":{"rendered":"

\n<\/p>\n

\n <\/p>\n

SINGAPORE – Media OutReach<\/a>
\n– 22 December 2020 – With regard to the selection of SC Capital as the
\nreplacement manager of Eagle Hospitality REIT (EH-REIT), Urban Commons,
\nthe Sponsor of Eagle Hospitality Trust (EHT), believes that SC Capital’s
\ncurrent proposal will very likely provoke disagreements amongst various interested
\nparties. This could initiate a chain of reactions and is highly risky for
\nsecurityholders. <\/p>\n

\u00a0<\/p>\n

Sponsor has provided recommendations and DBS
\nTrustee ignored their proposals to save the REIT. A substantial
\namount of EHT’s cash, approximately $25 million, has been spent on professional
\nconsultants who are, surprisingly, not collaborating with the Sponsor to find a
\nway forward for the benefit of securityholders. The Sponsor believes that all
\ninterested parties should work together to resolve issues for the good of all
\nsecurityholders.<\/p>\n

\u00a0<\/p>\n

Urban
\nCommons has the intention to restructure the current REIT manager, to
\nstrengthen management status and cash position. Sponsor to propose a new
\npartner to the manager, which is subject to MAS approval.<\/p>\n

\u00a0<\/p>\n

“We hope that DBS Trustee will make the right decisions to protect
\nthe interests of all securityholders. On the other hand, we are working hard to
\nengineer the best deal possible for <\/i><\/b>securityholders,
\nby considering a variety of different options for the REIT. This includes a
\nwhole spectrum of possibilities, such as the possible entry of a white knight, as
\nwell as the potential refinancing or a unique recapitalization plan that suits
\nthis unique scenario,”<\/i><\/b> said Howard Wu, Founder and Principal at UC. “While
\nsecurityholders may feel they are left with few choices, we believe that
\npresenting additional options at our proposed EGM will help them see the
\npotential for their REIT, as well as our continued commitment to help weather
\nthe storm.”<\/i><\/b><\/p>\n

The issuer is solely responsible for the content of this announcement.<\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

SINGAPORE – Media OutReach – 22 December 2020 – With regard to the selection of SC Capital as the replacement manager of Eagle Hospitality REIT (EH-REIT), Urban Commons, the Sponsor of Eagle Hospitality Trust (EHT), believes that SC Capital’s current proposal will very likely provoke disagreements amongst various interested parties. This could initiate a chain …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/10481"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=10481"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/10481\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=10481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=10481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=10481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}