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Following AK, Pokemon Go, Saizen REIT DPU 9.87c etc.

Friday, August 19, 2016

I decided quite a while back that I should restrict the amount of time I spend on blogging and its related activities. So, nothing more than 2 hours a day. I think that is a fairly generous amount of time to spend daily on a hobby.

I know people who are spending a lot more time on Pok√©mon Go now. That is not something I understand but we decide on how we would spend our time and must be comfortable with the consequences. The latter is something people think less about.

I am also spending more time with family, gardening, exercising, shopping, cooking, watching anime and k-drama. So, even in retirement, I am kept busy as there are many things which I am spending more time on.

Blogging is not a job and I hope it won't become a job because I might not enjoy it as much then.

Some might notice that I have more updates on my Facebook wall than in my blog these days. This is because Facebook is very convenient.

I know.

AK is terribly lazy.

Bad AK! Bad AK!

Whenever I do that, I also update the comments section of my blog here. So, for those who do not follow me on Facebook and would like to have more updates, following the comments section of my blog is something to consider.

Here is a recent email exchange with a reader on the subject:

Saizen made an anoucement.  I read that we will be paid the residual sum
and Sime Derby
buying shares at about 3 cents.
I do not understand at all.
Like to understand how do you see this development and your plan of action.

Thanks for your help.

I am holding on to my investment to receive the payout. :)

The REIT will issue new shares to new investor and I get to stay on as an old investor.

Hi AKThank You. Likely we have to pay for new the new shares. What
is the cost and the net gain for old investor.This is the area I am
not clear.Appreciate advise.
I shared this on my FB wall:

 "May I ask what is happening to Saizen? I've read the document
released today but still do not understand. wish you would talk to
yourself n explain in simple terms to us! Thanks!"

Assi AK:
 "We will be paid 9.87c a unit and still get to keep our investment in the REIT, it seems.
"The REIT will issue new units priced at 3.484c to new investors to  partially fund purchase of some Australian properties.
"Whether it is a good deal or not is hard to say at this moment but to  get paid and yet retain an investment that could possibly generate
income for me in future sounds good."

Thanks AK.i do not go faceboik.Why do not you post it on your regular website.
I actually posted this in the comments section of my blog too.
You can follow the comments section of my blog for updates, if you like. I provide info on how to do this under "Following my blog" in the left side bar.
I don't always have the time or inclination to blog. So, the comments section or my Facebook wall are quick ways for me to do updates. :)

Related post:
Following comments in ASSI.


raf said...

Hi AK: By not selling at the going price of 12 cts, you are indirectly paying 2 cents (20% additional)for the right of staying on as a unitholder. Is that worth it? Answer to this question is relevant for those who may be considering whether to buy some at 12 cents.

AK71 said...

Hi raf,

The REIT will issue new units at 3.484c to new shareholders.

I understand that existing shareholders will still be holding on to their units which should, theoretically, be worth 3.484c a unit.

AK71 said...

Saizen REIT has agreed to acquire 20 industrial properties in Australia as part of a reverse takeover arrangement with Malaysian conglomerate Sime Darby.

Total land area is approximately one million square meters and will be acquired for a total of AUD355.8 million (USD270 million).

The properties are being acquired from construction equipment supplier Hastings Deering (Australia) Limited, which has been a wholly-owned company of Sime Darby since 1992.

Upon acquisition, the properties will be master leased to Hastings Deering Property Services, a wholly-owned subsidiary of Hastings Deering.

The properties feature a collective weighted average lease expiry (WALE) of approximately 16.7 years based on gross rental income, with all leases featuring annual rental escalations of 1.50% annually in the first three years, and 2.75% per year thereafter.

AUD282,576,360 of the purchase consideration will be satisfied with proceeds from the issuance of new Saizen REIT units at an issue price of SGD0.03604 per unit, while AUD73,223,640 will be satisfied through cash proceeds from external bank financing.

The new units will be issued to Sime Darby Property Singapore Limited, the conglomerate’s subsidiary in the city state.

Sime Darby Property Singapore Limited will hold no less than 25.0% of the enlarged Saizen REIT's total units in issue.

Prior to the issuance of the new Saizen REIT units, the remaining proceeds distributions of up to SGD0.0237 per unit shall be distributed to existing unitholders.


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