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    HMN   SGXC16332337

ASCOTT RESIDENCE TRUST

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Asset Acquisitions and Disposals::Acquisition of Student Accommodation Property in Texas

09/21/2021 | 11:12pm EST

ASCOTT RESIDENCE TRUST

A stapled group comprising:

Ascott Real Estate Investment Trust

Ascott Business Trust

(A real estate investment trust constituted on 19

(A business trust constituted on 9 September 2019

January 2006 under the laws of the Republic of

under the laws of the Republic of Singapore)

Singapore)

Managed by

Managed by

Ascott Residence Trust Management Limited

Ascott Business Trust Management Pte. Ltd.

(Company Registration No. 200516209Z)

(Company Registration No. 201925299R)

ANNOUNCEMENT

ACQUISITION OF STUDENT ACCOMMODATION PROPERTY IN TEXAS

Ascott Residence Trust Management Limited, as manager of Ascott Real Estate Investment Trust ("Ascott Reit"), and Ascott Business Trust Management Pte Ltd, as trustee-manager of Ascott Business Trust, (collectively the "Managers"), refer to the announcement dated 9 September 2021 where the Managers announced that Ascott Reit, through a wholly owned subsidiary, had entered into a conditional sale and purchase agreement to acquire a student accommodation property located at 1701 N. Quaker Avenue, Lubbock, Texas, 79416 U.S. (the "Acquisition").

The Managers are pleased to announce that the Acquisition has been completed.

By Order of the Board

ASCOTT RESIDENCE TRUST MANAGEMENT LIMITED

(Company Registration No. 200516209Z)

As manager of Ascott Real Estate Investment Trust

ASCOTT BUSINESS TRUST MANAGEMENT PTE. LTD.

(Company Registration No. 201925299R)

As trustee-manager of Ascott Business Trust

Karen Chan

Company Secretary

22 September 2021

1

IMPORTANT NOTICE

The past performance of Ascott Residence Trust ("ART") is not indicative of future performance. The listing of the stapled securities in ART (the "Stapled Securities") on the Singapore Exchange Securities Trading Limited (the "SGX-ST") does not guarantee a liquid market for the Stapled Securities. The value of the Stapled Securities and the income derived from them may fall as well as rise. Stapled Securities are not obligations of, deposits in, or guaranteed by, Ascott Residence Trust Management Limited as manager of Ascott Real Estate Investment Trust or Ascott Business Trust Management Pte. Ltd. as trustee-manager of Ascott Business Trust (collectively, the "Managers") or any of their respective affiliates. An investment in the Stapled Securities is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Managers redeem or purchase their Stapled Securities while the Stapled Securities are listed on the SGX-ST. It is intended that holders of Stapled Securities may only deal in their Stapled Securities through trading on the SGX- ST.

This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Stapled Securities.

2

Disclaimer

Ascott Residence Trust published this content on 22 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2021 03:11:05 UTC.


ę Publicnow 2021
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Financials
Sales 2021 421 M 307 M 307 M
Net income 2021 160 M 117 M 117 M
Net Debt 2021 2 107 M 1 537 M 1 537 M
P/E ratio 2021 21,1x
Yield 2021 4,17%
Capitalization 3 244 M 2 369 M 2 366 M
EV / Sales 2021 12,7x
EV / Sales 2022 10,2x
Nbr of Employees -
Free-Float 98,9%
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Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 0,99 SGD
Average target price 1,13 SGD
Spread / Average Target 14,5%
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Managers and Directors
Siew Kim Beh CEO & Non-Independent Executive Director
Siew Fong Kang Chief Financial Officer
Kin Leong Chan Head-Investment & Asset Management
Kim Huat Chia Independent Non-Executive Director
Zulkifli bin Baharudin Independent Non-Executive Director
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