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The Straits Times
Uma Devi
https://str.sg/JRzp
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SINGAPORE (THE BUSINESS TIMES) - The proposed change of a manager for beleaguered Eagle Hospitality Trust (EHT) fell through on Wednesday after unitholders voted against one of the four inter-conditional resolutions tabled at an extraordinary general meeting (EGM).
Source: Media Outreach
Sponsor will be seeking EHT to reconsider decision to deny request to hold a further EGM
Unitholders of a publicly listed company are well within their rights to requisition the Board to convene an EGM for considering additional resolutions
Operational uncertainties are not grounds for denying unitholders’ requests for an EGM
SINGAPORE – Media OutReach – 24 December 2020 – Urban Commons (UC), the Los Angeles-based real estate investment and development firm and Sponsor of Eagle Hospitality Trust (EHT), will be seeking EHT to reconsider its decision to deny the request to hold a further extraordinary general meeting (EGM) to vote on a rights issue and a proposal to retain or reappoint the current manager of Eagle Hospitality REIT (EH-REIT).
The Straits Times
Kelly Ng
https://str.sg/JREG
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SINGAPORE (THE BUSINESS TIMES) - Eagle Hospitality Trust (EHT) has rejected allegations by a lender, Lodging USA Lendco, and its affiliated entity Claydon Hill Investments, that EHT had falsely disclosed in a circular that Lendco had not demanded payment for an US$89 million unsecured loan.
SINGAPORE (THE BUSINESS TIMES) - The Monetary Authority of Singapore (MAS) confirmed on Sunday that the appeal from the shareholder of Eagle Hospitality Reit s (EH-Reit) manager regarding the directive on its removal has not been accepted.
MAS earlier direction to DBS Trustee on Nov 30 remains in effect and the trustee is required to comply with the direction, said an MAS spokesperson.
Mandarin West Holdings (MWH), the sole shareholder of EH-Reit s manager, had on Dec 10 filed an appeal to Finance Minister Heng Swee Keat against its removal.
The directive from MAS dated Nov 30 instructed the trustee of EH-Reit to remove EH-Reit s manager within one month from the date of issuance of the directive, or such longer period that MAS may approve in writing, and appoint a new manager for EH-Reit.