(Incorporated in the Republic of Singapore under a trust deed dated July 12, 2007
DISCLOSURE IN ACCORDANCE WITH RULE 704 (31) OF THE SGX-ST REGISTRATION MANUAL
In accordance with Rule 704 (31) of the SGX-ST Listing Manual, the Board of Directors of Parkway Trust Management Limited (“PTML“), as manager of Parkway Life Real Estate Investment Trust (“Parkway Life REIT“) wish to announce that HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of Parkway Life REIT) as borrower (“Borrower“), entered into a facility agreement on December 29, 2021 (the”Ease Agreement“). The facility granted under the facility contract will be applied to, among others, refinancing of existing installations.
Under the terms of the Credit Agreement, the Borrower is required to, among others, prepay the unpaid amounts under the facility contract: –
- in the event that PTML ceases to be the manager of Parkway Life REIT; Where
- in the event that Parkway Holdings Limited ceases to hold, directly or indirectly, at least 51% of the shares of PTML,
but only if the Borrower and the lender cannot agree on the revised terms of the Facility (as defined in the Facility Agreement) before the end of the Negotiation Period (as defined in the Facility Agreement) .
(collectively, the “Specified conditions“).
As of the date of this announcement, no prepayment under the Specified Conditions has taken place.
As of the date of this announcement, the aggregate level of facilities that may be affected by the breach of the specified conditions (excluding interest, prepayment charges, bonuses, penalties or breach financing costs) (in each case, if applicable)) is approximately S $ 737 million.
By order of the Council
Parkway Trust Management Limited
(Company registration number 200706697Z)
As manager of Parkway Life Real Estate Investment Trust
Yong Yean Chau
Executive Director and Chief Executive Officer
December 29, 2021
This announcement is for informational purposes only and does not constitute an invitation or an offer to acquire, purchase or subscribe for units of Parkway Life Real Estate Investment Trust (“Parkway Life REIT” and units of Parkway Life REIT , the âsharesâ).
The value of the Units and the income from them may go down as well as up. The Units do not constitute obligations, deposits or collateral of Parkway Trust Management Limited, as manager of Parkway Life REIT (the âManagerâ) or any of its affiliates. Investors do not have the right to ask the Manager to redeem their units while the units are listed. It is intended that Unitholders of Parkway Life REIT may only trade their Units through trading on Singapore Exchange Securities Trading Limited (the âSGX-STâ). Listing of Units on the SGX-ST does not guarantee a liquid market for the Units. Past performance of Parkway Life REIT or the Manager is not necessarily indicative of the future performance of Parkway Life REIT or the Manager. An investment in the Units is subject to investment risks, including the possible loss of the invested capital.