FSGL: Announcement on Full Redemption and Cancellation of the Series 2 Perpetual Convertible Capital Securities
October 08, 2020 at 08:25 pm EDT
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General Announcement::Announcement by Associated Company, First Sponsor Group Li... Page 1 of 1
GENERAL ANNOUNCEMENT::ANNOUNCEMENT BY ASSOCIATED COMPANY, FIRST SPONSOR GROUP LIMITED
Issuer & Securities
Issuer/ Manager
CITY DEVELOPMENTS LIMITED
Securities
CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09
Stapled Security
No
Announcement Details
Announcement Title
General Announcement
Date &Time of Broadcast
09-Oct-2020 07:50:25
Status
New
Announcement Sub Title
Announcement by Associated Company, First Sponsor Group Limited
Announcement Reference
SG201009OTHRPP1W
Submitted By (Co./ Ind. Name)
Enid Ling Peek Fong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
First Sponsor Group Limited ("FSGL"), an associated company, has on 8 October 2020 released an announcement relating to Full Redemption and Cancellation of the Series 2 Perpetual Convertible Capital Securities.
For details, please refer to the announcement released by FSGL on the SGX website www.sgx.com
FULL REDEMPTION AND CANCELLATION OF THE SERIES 2 PERPETUAL CONVERTIBLE CAPITAL SECURITIES
The board of directors ("Board") of First Sponsor Group Limited ("Company") refers to the announcements dated 3 September 2020, 8 September 2020 and 15 September 2020 (collectively, "Redemption Announcements").
Unless otherwise defined herein or the context otherwise requires, all capitalised terms used in this Announcement shall bear the same meanings ascribed to them in the Redemption Announcements.
As stated in the Redemption Announcements, the Company shall redeem all, and not some only, of the outstanding Series 2 Convertible Securities at the redemption amount. Details of the redemption amount are as follows:
(a)
Number of outstanding Series 2 Convertible
:
3,212,065
Securities (as at 7 October 2020)
(b)
Distribution period (for purposes of
: 1 July 2020 (inclusive) to 8 October
calculating the Distribution payable)
2020 (exclusive)
(c)
Number of days
:
99 days
(d)
Distribution rate
: 3.98 per cent. per annum
(e)
Calculation of total Distribution
: 3,212,065 x S$1.30 x 3.98% x 99/365
(f)
Total Distribution amount payable
:
S$45,076.80
(g)
Calculation of redemption amount
: (3,212,065 x S$1.30) + S$45,076.80
(h)
Redemption amount
:
S$4,220,761.30
3. The Company wishes to announce that as stated in the Redemption Announcements, payment of the redemption amount has been effected on 8 October 2020 and accordingly, the Company has successfully redeemed all outstanding Series 2 Convertible Securities, and the redeemed Series 2 Convertible Securities will be cancelled thereafter.
For and on behalf of the Board
Neo Teck Pheng
Group Chief Executive Officer and Executive Director
8 October 2020
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CDL - City Developments Ltd. published this content on 09 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 October 2020 00:24:05 UTC
City Developments Limited is a Singapore-based global real estate company with a network spanning approximately 143 locations in 28 countries and regions. Its portfolio comprises residences, offices, hotels, serviced apartments, student accommodation, retail malls and integrated developments. The Company's segments include Property development, Hotel operations, Investment properties and Others. The Property development segment is engaged in developing and purchasing properties for sale. The Hotel operations segment owns and manages hotels. The Investment properties segment is engaged in developing and purchasing investment properties for lease. The Others segment comprises investment in shares, management and consultancy services, and provision of laundry services. The Company has developed over 50,000 homes and owns around 21 million square feet of gross floor area in residential for lease, commercial and hospitality assets globally, and it has over 150 hotels worldwide.
CITY DEVELOPMENTS LIMITED 
