MacarthurCook Industrial REIT (MI REIT) has rebutted Cambridge Industrial Trust's (CIT's) assertions that its recapitalisation plan is "massively value destructive". MI REIT said on Tuesday that unitholders should not allow themselves to be distracted by analyses that are inaccurate, incomplete and misleading. It said there are a number of mistakes in CIT's analysis. These include: CIT's claim that new...
Cambridge Industrial Trust
Mainboard-listed Cambridge Industrial Trust (CIT) said on Monday it plans to raise up to S$28 million through a private placement of new units. It will issue the new units at a price of 39.2 cents each. The price represents a 5.5 per cent discount to CIT's last closing price of 41.5 cents. CIT said the number of units to be placed out has yet to be determined. Proceeds from the exercise will be used for...
Cambridge Industrial Trust has announced a distribution of 1.345 cents per unit for the quarter April 1, 2009, to June 30, 2009 (2Q09). Total net distributable income for 2Q09 was $10.7 million with a DPU of 1.345 cents. This represents an annualised yield of 15.4% based on the closing price of 35 cents per unit as at June 30. The industrial trust says most of the properties are signed with long-term...