Eagle Hospitality Will Pay for Sponsor's Liabilities Using Distribution Funds

News about Eagle Hospitality Trust

In order to preserve the condition and value of its properties, Eagle Hospitality Trust (EHT) is having to use the funds originally meant for distribution to unit holders:

This is in light of the "continuing failure" by the trust sponsor and master lessee Urban Commons to discharge its obligations under the Master Lease Agreements (MLAs), EHT said in a filing to the Singapore Exchange on Wednesday night (May 27).

EHT urgently needs to protect and safeguard the asset value of its portfolio, it said. "There is currently no alternative source of monies to fund the portfolio preservation expenses other than the monies originally intended to fund the distribution and the remaining security deposits."

Eagle Hospitality Trust
Price0.137 USD
NAV0.171 USD
Yield (4 quarters)0.00%