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EAGLE Hosp Reit US$ @$0.780 cents
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laksaman57
Supreme |
01-May-2020 19:08
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Heavily discounted preferential share offer to major shareholder or white knight ?
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WiseInvestor
Elite |
01-May-2020 16:27
Yells: "Forex Biz Opportunity for traders!" |
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Eagle is now hospitalised in big cage. Hopefully, it will be released soon after restructuring of its body structure to good condition. | ||||
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notmybiz
Senior |
01-May-2020 14:33
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Prefer major shareholder with connection & experience in related field to takeover. Hope Mr Gordon Tang can step up to keep Eagle flying!
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Calmroom
Master |
01-May-2020 14:19
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The undistributed cash plus the money already in the SD account is quite substantial. ( MAS making DBS foot the bill eventually would be greeted with cheering investors of course.) CEO Mr Monty Bennett of Ashford H-Trust actually commented that traditional lenders (banks) were understanding and working with him. Ashford was also reported to have received 30m in US government aid. As long as the lenders do not strangle Eagle to death, there is real hope for a comeback.
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uiop1223
Supreme |
01-May-2020 13:10
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Hire so many advisors and shareholders foot the bill 💁 ♂ ️ | ||||
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Skywalker98
Member |
01-May-2020 12:29
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THE managers of Eagle Hospitality Trust (EHT) on Tuesday announced it has named Moelis & Company as financial adviser as well as brought in temporary caretakers at five closed hotels after their hotel managers left. The investment bank will assist the managers&rsquo special committee and EHT&rsquo s real estate investment trust (Reit) trustee, DBS Trustee, in undertaking the strategic review of EHT&rsquo s business, including advising on available options to achieve the best possible outcomes for the stapled security holders. Moelis will complement the efforts of FTI Consulting, which was appointed last week to assist in the restructuring process of EHT. The immediate focus of the chief restructuring officers, who are from FTI, is to preserve the property portfolio value and evaluate EHT&rsquo s hotel management agreements (HMAs) and the master lease agreements (MLAs). This will include the evaluation of unpaid rent, its underlying cause and its impact. Formed on April 1, the special committee comprises all the independent directors and the chief executive officer of the manager, but excluding non-independent non-executive chairman Howard Wu and deputy chairman Taylor Woods for reasons for corporate governance and conflicts of interest. Mr Wu and Mr Woods are both co-founders and principals of EHT&rsquo s sponsor Urban Commons. For the same reasons of corporate governance, both FTI and Moelis will report to the special committee and DBS Trustee in respect of their advice, the EHT managers said in a filing on Tuesday night. Meanwhile, five of EHT&rsquo s assets in the US were closed by their previous hotel managers, which have since departed. These hotel managers had earlier sent termination notices of the relevant HMAs to their master lessees, which are under Urban Commons, after the master lessees failed to cure their default of maintaining sufficient working capital for the hotels' operations. The hotel managers said then that they would terminate the HMAs if the five master lessees did not cure the defaults within the applicable cure periods. In view of the imminent termination of the HMAs and the lack of remedial action by the master lessees to safeguard the hotels, each of the master lessors - which are Eagle Hospitality Reit&rsquo s (EH-Reit) subsidiaries - thus entered into a hotel caretaker agreement with affiliates of GF Hotels & Resorts. This was done at the direction of the Reit manager and with the approval of DBS Trustee, Bank of America (BofA) and a syndicate of lenders. BofA is the administrative agent for the lenders, which has demanded immediate repayment of EHT&rsquo s US$341 million loan and restricted access to several bank accounts of the Reit and master lessees. GF Hotels is to provide and implement temporary caretaker services at the five hotels, under the agreement with the master lessors. The management of those properties has been handed over to GF Hotels after an &ldquo orderly handover transition&rdquo between the previous hotel managers and GF Hotels, which took place over the course of last week, EHT&rsquo s managers said. The EHT managers added that they believe the caretaker services by GF Hotels are &ldquo a cost-effective means by which to safeguard asset values and minimise losses during the Covid-19 period&rdquo . The coronavirus pandemic has caused demand dislocation and temporary hotel closures across the US. The caretaker arrangements are also intended to preserve the underlying value of the hotels, while the EHT managers and the Reit trustee, together with the assistance of Moelis and the FTI chief restructuring officers, continue to assess the appropriateness of the MLAs as part of the strategic review and longer-term plans post-pandemic. The five affected hotels are: Four Points by Sheraton San Jose Airport, Crowne Plaza Danbury, Hilton Houston Galleria Area, Embassy Suites by Hilton Palm Desert and Doubletree by Hilton Salt Lake City Airport. Trading in EHT stapled securities has been suspended since March 24, 2020. |
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Peter88
Senior |
01-May-2020 11:53
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But some of the hotel managers already stop managing the hotels , and the hotels a closed , how to do business ?
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laksaman57
Supreme |
30-Apr-2020 17:20
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As US states reopen, hope trading will also reopen.
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laksaman57
Supreme |
30-Apr-2020 13:00
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Like the common cold that has no cure, it appear covid-19 will be treated with Remdesivir to manage the virus as the body builds antibodies to kill the virus. https://time.com/5829434/trump-federal-social-distancing/ " President Donald Trump said Wednesday the federal government&rsquo s coronavirus social distancing guidelines will be &ldquo fading out&rdquo when they expire Thursday ..."
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laksaman57
Supreme |
30-Apr-2020 12:29
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Americans like to travel and there is alot of pent up frustration from their lockdown, that will translated into surge in travel within the US, as each states start to reopen. |
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Peter88
Senior |
30-Apr-2020 11:05
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Should be good to the assets of Eagle HT .
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laksaman57
Supreme |
30-Apr-2020 10:06
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https://www.foxnews.com/politics/desantis-announces-florida-will-start-opening-businesses-monday-with-restrictions " DeSantis announces Florida will start opening businesses Monday ...." |
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Goldfinger
Supreme |
30-Apr-2020 07:42
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Respected Doctor Fauci came out to support Remdesivir. It?s a good sign. | ||||
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uiop1223
Supreme |
30-Apr-2020 07:09
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Well yes. Will benefit hospitality in general.. but not if its a fraud. When people are out to cheat, marcos doesnt matter
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laksaman57
Supreme |
29-Apr-2020 23:06
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Indeed very good questions but not likely sgx will sent official queries to DBS, otherwise would have seen DBS replies thru' sgx announcement.
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Calmroom
Master |
29-Apr-2020 22:53
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Wall Street is rallying on good news about the Gilead drug, remdesivir. Eagle hotels could be open for business sooner than expected. The US is a large country. Travellers, both local and foreign, cannot be expected to sleep on the streets when they arrive at their destinations. Hotels, inns, motels will always be needed as long as people travel. |
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fundamentalhero
Veteran |
29-Apr-2020 21:39
Yells: "I NEED HONEYS AND MONIES" |
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LOL SURE, THEN AFTER EHT FIASCO, THEY WILL UPDATE THE LISTING RULES TOO. AND THAT WILL BE ABOUT IT. HAHAHA, THAT IS WHAT YOU MEAN RIGHT~ REMEMBER TO TELL ME WHAT YOU ARE SMOKING |
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Goldfinger
Supreme |
29-Apr-2020 21:37
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That was before the recent SGX Listing Rules amendment. Hope you are current in your readings. Anyway, it is not my style to quibble with or bully the weak, or the poor or disenfranchised. You should play with the billy boys in your own league.
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Skywalker98
Member |
29-Apr-2020 21:30
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To no one in particular: (in case you think I love you so much to single you out) at the end of the day..... 1. The answer lies in the fine prints of the contract between UC and EHT/Trustee. That' s the lawyer' s domain. You and I dunno squat. 2. The trust is backed by assets, the " real" value of which, you and I also dunno squat. 3. Nobody put a gun to your head and ask you to buy EHT. Take the loss like a man. KPKB for what? * going back to sleep... |
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fundamentalhero
Veteran |
29-Apr-2020 21:18
Yells: "I NEED HONEYS AND MONIES" |
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EH WHAT YOU SMOKING GIVE ME SOME OF IT PLEASE HAHAHAHAHAHA YOUR STATEMENT IS AN GLARING JOKE IN FACE OF WHAT I SAID MIDAS NOBLE S CHIPS ABL TIGER COURTS " UNREASONABLE BUT FAIR OFFERS' LOL AND WHAT YOU QUOTE IS CRIMINAL LAW COMMERCIAL LAW DOESN' T WORK THAT WAY GO BRUSH YOUR TEETH! I MEAN GO BRUSH UP |
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