10th Jul 2006 07:48
Millennium & Copthorne Hotels PLC10 July 2006 10 July 2006 MILLENNIUM & COPTHORNE HOTELS PLC ("the Company") ANNOUNCEMENT REGISTRATION OF PROSPECTUS OF CDL HOSPITALITY TRUSTS Further to our earlier announcements dated 13 June 2006 and 23 June 2006 inrelation to the lodgement of CDL Hospitality Trusts' preliminary prospectus andamended preliminary prospectus respectively with the Monetary Authority ofSingapore ("MAS") in connection with its proposed initial public offering, weare pleased to announce that the manager of CDL Hospitality Real EstateInvestment Trust ("H-REIT"), being M&C REIT Management Limited (the "H-REITManager"), and the trustee-manager of CDL Hospitality Business Trust ("HBT"),being M&C Business Trust Management Limited (the "HBT Trustee-Manager"), havetoday registered the final prospectus of CDL Hospitality Trusts with the MAS. CDL Hospitality Trusts is a stapled group comprising H-REIT, a real estateinvestment trust and HBT, a business trust. The H-REIT Manager and the HBTTrustee-Manager are making an initial public offering (the "Offering") of 425.0million stapled securities in CDL Hospitality Trusts ("Stapled Securities"),with the Company as the sponsor of the Offering. The Offering consists of (i) aninternational placement of 410.0 million Stapled Securities to investors,including institutional and other investors in Singapore, of which 12.5 millionStapled Securities have been reserved for subscription by the directors,management, employees and business associates of the Company and persons whohave contributed to the success of the Offering, and (ii) an offering of 15.0million Stapled Securities to the public in Singapore, subject to reallocation. The issue price of each Stapled Security under the Offering has been fixed atS$0.83 per Stapled Security (the "Offering Price") upon agreement between DBSBank Ltd ("DBS Bank"), BNP Paribas Peregrine (Singapore) Ltd ("BNP ParibasPeregrine"), BNP Paribas (acting through its Singapore Branch) ("BNP Paribas"),the Company, the H-REIT Manager and the HBT Trustee-Manager. DBS Bank is thejoint financial advisor, global coordinator, underwriter and bookrunner inrelation to the Offering. BNP Paribas Peregrine is the joint financial advisor,global coordinator and bookrunner in relation to the Offering, while BNP Paribasis the joint underwriter. BNP Paribas Peregrine is a wholly owned subsidiary ofBNP Paribas. Separate from the Offering, the Company will, through an indirect wholly-ownedsubsidiary, Hospitality Holdings Pte. Ltd., hold 273.0 million StapledSecurities (constituting approximately 39.1% of the total number of StapledSecurities expected to be in issue immediately after completion of theOffering). ENQUIRIES Millennium & Copthorne Hotels plcRobin Lee, Senior Vice President Finance +44 (0) 20 7872 2444 Financial DynamicsBen Foster/Charles Watenphul +44 (0) 20 7831 3113 IMPORTANT NOTICE This Announcement does not constitute an offer, invitation or solicitation ofsecurities in any jurisdiction. The information in this Announcement is qualified in its entirety by, and shouldbe read in conjunction with, the full text of the prospectus which has beenregistered with the MAS on 10 July 2006 in relation to the Offering (the "Prospectus"). The Offering is made by the H-REIT Manager as manager of H-REITand the HBT Trustee-Manager as trustee-manager of HBT. H-REIT and HBTcollectively comprise CDL Hospitality Trusts. Predictions, projections or forecasts of the economy or economic trends of themarkets are not necessarily indicative of the future or likely performance ofCDL Hospitality Trusts. A potential investor should read the Prospectus, beforedeciding whether to subscribe for or purchase the Stapled Securities. TheProspectus may be obtained on request, subject to availability, from any branchof DBS Bank Ltd (including POSB), BNP Paribas, Singapore Branch as well as fromcertain members of the Association of Banks in Singapore, members of the SGX-STand merchant banks in Singapore during normal office hours. Anyone wishing toacquire the Stapled Securities will need to make an application in the mannerset out in the Prospectus. The value of the Stapled Securities and the income derived from them may fall aswell as rise. The Stapled Securities are not obligations of, deposits in, orguaranteed by, the H-REIT Manager, DBS Trustee Limited (the "H-REIT Trustee"),the HBT Trustee-Manager, DBS Bank, BNP Paribas, BNP Paribas Peregrine, theCompany or any of their respective affiliates. An investment in the StapledSecurities is subject to investment risks, including the possible loss of theprincipal amount invested. Investors have no right to request that the H-REITManager and the HBT Trustee-Manager redeem or purchase their Stapled Securitieswhile the Stapled Securities are listed. It is intended that holders of theStapled Securities may only deal in their Stapled Securities through trading onSingapore Exchange Securities Trading Limited (the "SGX-ST"). Listing of theStapled Securities on the SGX-ST does not guarantee a liquid market for theStapled Securities. The Stapled Securities have not been and will not be registered under the U.S.Securities Act of 1933, as amended (the "Securities Act") and, subject tocertain exceptions, may not be offered or sold within the United States, Japanor Canada or to, or for the account or benefit of, U.S. persons (as defined inRegulation S under the Securities Act ("Regulation S")). The Stapled Securitiesare being offered and sold outside the United States to non-U.S. persons inreliance on Regulation S. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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