Sabana Shari'ah REIT

[ACTIVIST SPEAKS]

Thanks guys. We understand our position and we know we are fighting this battle with just stones. But the alternative is to do nothing and see our investments evaporate. Within all this, there are sad stories bearing in mind the profile of a REIT investor.
We are not going to "get 50 people to buy 10 shares each"....becos we have a genuine problem here and we are solving it with real people.

As you can see, we need a lot of help to able to win this. If you can help in any way, please do. Cheers.

sabanareit.blogspot.sg

[opmi]

Insurgents fighting with conventional warfare mentality. Cannot leh.

[lanoitar]

But there's a chance this can succeed, and even if it doesn't, the spotlight thrown on the issues brought up, is sometimes a greater force for change than trying to push it through...

Indeed. As fellow retail investors, we should cheer & support such efforts whenever someone sticks his neck out. It's natural to be skeptical, but pouring cold water will not serve the greater interest of the community.

As a start, this effort needs more publicity. If you own a popular blog, write about it. If you have media contact, tell them about it. Every small effort will make our voice louder.

[tonylim]

But there's a chance this can succeed, and even if it doesn't, the spotlight thrown on the issues brought up, is sometimes a greater force for change than trying to push it through...

Indeed. As fellow retail investors, we should cheer & support such efforts whenever someone sticks his neck out. It's natural to be skeptical, but pouring cold water will not serve the greater interest of the community.

As a start, this effort needs more publicity. If you own a popular blog, write about it. If you have media contact, tell them about it. Every small effort will make our voice louder.

There are selfish and unselfish people around. One is selfish , doesn't mean all are selfish !

[weijian]

The rights issue is oversubscribed by ~1X, equivalent to every shareholder at least applying the excess rights based on their own portion, and seems to be quite popular. The sponsors themselves applied for excess rights almost equivalent to their own portion as well and outsiders ("Non sponsors") make up the remaining ~93% of excess rights. Is there some big boy/s thinking of using this event as a prelude to executing some action?

UNDERWRITTEN AND RENOUNCEABLE RIGHTS ISSUE FINAL RESULTS OF THE RIGHTS ISSUE
http://infopub.sgx.com/FileOpen/Results%...eID=436457

Valid acceptances 278,208,053 89.5%
Excess applications 371,377,343 119.5%
Total 649,585,396 209.1%

[weijian]

Greatly appreciate your investigative study.  We read the Code of CIS. Together with "Response to Feedback Received - Consultation on Enhancements to the Regulatory Regime governing REITS and REIT Managers" dated 9 Oct 2014, we believe we have the right to call for a general meeting to try and remove the Manager.  Like you say, it has never been done before....so we can only rely on the spirit of the Code to guide us.  

We do not have a lawyer.  As this is a gathering of strangers from the internet.  We need all the help we can get.   Please email me at jerrylow9292@gmail if you come across anything that is of concern to us.  tq

P.S.  Thanks for letting us use this forum to broadcast.

sabanareit.blogspot.sg

hi, i tried to look into this in further detail. I think it is possible.

https://isca.org.sg/media/776822/consoli...-final.pdf (refer to page 6)

http://frasershospitality.listedcompany....ce2014.pdf Frasers Hospitality trust consists of a stapled trust and reit unit (http://www.frasershospitalitytrust.com/t...cture.html) 
- page 331 refers to REIT-manager removal which requires >50% of total no. of votes by the REIT-holders
- page 355 refers to the Trustee-manager removal which requires >75% of voting rights by the BT-holders

[ACTIVIST SPEAKS]

TQ. and wish us luck.

[ACTIVIST SPEAKS]

REMOVE SABANA REIT MANAGER....You will be making a binary decision. Remove the Manager or Keep the Manager. It is your choice. Not voting is a vote to Keep the Manager. Do nothing and you will continue to lose. Please attend the meeting and vote in favour of the adoption of all the resolutions at the general meeting.


http://sabanareit.blogspot.sg/

[ACTIVIST SPEAKS]

Sabana Shari'ah Compliant REIT
Rumblings of Unitholder activism

SINGAPORE | REAL ESTATE (REIT) | TRADING NOTE

Event-driven trading idea

The price of Sabana Shari'ah Compliant REIT (SSREIT) had declined by $0.335 or 47% to
$0.380 for the year ended December 30, 2016; and returned only 5.26 cents in
distributions (for 4QFY15 to 3QFY16) during the year. The recent dilutive 42-for-100 Rights
Issue with Issue Price of $0.258 to fund acquisitions that are non-accretive on a pro forma
basis, appears to be the last straw for Unitholders and they are doing something about it.

For more.... see Philips Capital

[tonylim]

Sabana Shari'ah Compliant REIT
Rumblings of Unitholder activism

SINGAPORE | REAL ESTATE (REIT) | TRADING NOTE

Event-driven trading idea

The price of Sabana Shari'ah Compliant REIT (SSREIT) had declined by $0.335 or 47% to
$0.380 for the year ended December 30, 2016; and returned only 5.26 cents in
distributions (for 4QFY15 to 3QFY16) during the year. The recent dilutive 42-for-100 Rights
Issue with Issue Price of $0.258 to fund acquisitions that are non-accretive on a pro forma
basis, appears to be the last straw for Unitholders and they are doing something about it.

For more.... see Philips Capital

It is good to know market is aware of such action by retail investors . Hope to reach a crescendo !