For those who are ARA LOGOS unitholders, assuming the merger goes through, the choices are (1) keep all your holdings and get the cash and ESR units, (2) sell all now, but there is a 3rd option (3) keep some and sell some.
1.6765 new ESR-REIT units(3)per ALOG unit, issued at S$0.510 per unit(4)(“the “Consideration Units”)
The number of Consideration Units which each Unitholder will be entitled to pursuant to the Trust Scheme will be rounded down tothe nearest whole number, and fractional entitlements shall be disregarded in the calculation of the aggregate Consideration Units to be issued to any Unitholder pursuant to the Trust Scheme.
When ALOG units are converted to ESR REIT, everyone will end up with odd lots of ESR
unless you have 3,400 units:
3,400 * 1.6765 = 5700.1 rounds down to 5700 units of ESR REIT
Multiples of 3,400 also work - 6,800, 10,200 etc.