Hotel Properties Limited · SGX:H15
Hotel Properties — Merger or Acquisition (November 2021)
10 slides from Hotel Properties's merger presentation, Nov 15, 2021
Slide 1: Superior Offer for Singapore Press Holdings Limited
Superior Offer for Singapore Press Holdings Limited By Cuscaden Peak Pte. Ltd. A Consortium Comprising: CLA Real Estate Holdings Pte. Ltd. November 15, 2021
Slide 2: Legal Disclaimer
Legal Disclaimer NOT FOR RELEASE, PUBLIC ATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM AN Y JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT L AWS OF TH AT JURISDICTION. THIS PRESENTATION SHALL NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SE
Slide 3: A Superior Offer for SPH Shareholders
A Superior Offer for SPH Shareholders Cuscaden’s offer provides maximum flexibility and value certainty for each SPH shareholder to suit individual investment needs Cuscaden Scheme Keppel Scheme Each SPH shareholder may choose to receive either: Only one option Option 1 : All Cash Option 2 : Cash an
Slide 4: Why SPH Shareholders should VOTE IN FAVOUR of the Cuscaden Scheme
Why SPH Shareholders should VOTE IN FAVOUR of the Cuscaden Scheme Compelling • Both consideration options under the Cuscaden Scheme offer higher value and more cash Higher Value than the Keppel Scheme Maximum • Each SPH shareholder has the ability to elect the option that best suits individual inves
Slide 5: A Superior Offer to the Keppel Scheme
A Superior Offer to the Keppel Scheme Both options offered by Cuscaden provide a higher value and certainty on the consideration received Cuscaden Scheme Keppel Scheme 1 100% Cash 2 67% Cash 37% Cash ✓ Higher Scheme Price than Keppel ✓ Higher Illustrative Price than Keppel’s Illustrative Price Highe
Slide 6: Cuscaden Scheme Provides More Value Certainty and Flexibility
Cuscaden Scheme Provides More Value Certainty and Flexibility Keppel Scheme comprises two-thirds REIT units which creates inherent volatility risk for SPH Shareholders, and incurs brokerage fees on sale Cuscaden / Keppel Implied Scheme Consideration Value Over Time (S$ per Share) 2.450 2 Cuscaden Ca
Slide 7: Transaction Certainty for SPH Shareholders
Transaction Certainty for SPH Shareholders ✔ Implementation Agreement signed Unlike the Keppel Scheme which is subject to its shareholders’ approval, the ✔ Cuscaden Scheme does not require the approval of Cuscaden’s shareholders ✔ ALL regulatory applications have been made and the process is underwa
Slide 8: SPH Shareholders – Your Vote Matters
SPH Shareholders – Your Vote Matters Subject to the IFA opinion and in the absence of a superior competing offer, the preliminary recommendation by SPH’s Independent Directors is for SPH shareholders to: i Vote Against the Keppel Scheme; and ii Vote in Favour of the Cuscaden Scheme How Is A Scheme P
Slide 9: Appendix
Appendix
Slide 10: Cuscaden – A Highly Credible Consortium
Cuscaden – A Highly Credible Consortium Our Consortium comprises three established and reputable real estate companies in Singapore Hotel Properties Como Holdings Inc1 CLA Real Estate Holdings Pte Ltd Mapletree Investments Pte Ltd Limited (SGX: H15) 70% 30% 100% 100% Tiga Stars Pte. Ltd. Adenium Pte
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